Northern Nigeria flour mills post NGN1.0 billion revenue for half year

Northern Nigeria flour mills

Northern Nigeria Flour mills is reporting NGN58.9 million loss for the second quarter of the year compared to NGN15.4 million profit recorded same period in the financial year 2016.

The company delivered NGN1.0 billion revenue for the period in contrast to NGN341.8 million reported in the previous year while gross profit was NGN3.8 million compared to NGN17.9 million loss posted in the year before.

Operating profit increased to NGN213.6 million from NGN1.4 million recorded in the fiscal year 2016 while investment income stood at NGN6.5 million against NGN14.0 million in the year before.

Total assets posted Northern Nigeria Flour mills was NGN3.5 billion for the six months compared to NGN3.9 billion posted in the year before while total liabilities was NGN2.3 billion against NGN2.6 billion in the year 2016.