Flour Mills records N25.7bn full-year profit

Flour Mills of Nigeria Plc has recorded N25.7 billion Profit After Tax (PAT) in its audited financials for the year ended 31st March, 2021.

The PAT reached N25.7bn, up from N11.4bn in 2019/2020 (127% YoY growth).

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Speaking on the result, the Group Managing Director, Omoboyede Olusanya said Flour Mills emerged from the prevailing COVID-19 environment as a stronger, more resilient, flexible, and confident business as a result of the collective strategic actions made over our 60 year history.

“The Group delivers impressive financial year (FY) top-line growth across all business segments with an average revenue growth of 34%, led by growth in agro-allied combined with investments in route-to-market and accelerated expansion in the B2C segments.”

“I want to thank all our employees for their patience and hard work as we consistently adapted to the year’s challenges and invested significantly in our purpose of feeding the nation every day.”