Northern Nigeria flour mills posts 820% rise in losses for Q1

Dangote Flour

Northern Nigeria Flour Mills is reporting 820% rise in losses to NGN35.9 million in first quarter 2017 compared to NGN3.9 million loss recorded same period 2016.

The company recorded higher revenue of NGN236.5 million in 2017 in contrast to NGN207.9 million in 2016 while its gross profit was NGN8.4 million against NGN13.8 million loss posted in the year before.

Total assets for the period NGN3.9 billion in contrast to NGN1.7 billion acquired in the year before while total liabilities was NGN2.7 billion versus NGN549.1 million in 2016.

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