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Honeywell Flour Posts Impressive Performance in 9 Months

By Modupe Gbadeyanka

The unaudited financial statements of Honeywell Flour Mills Plc released to the Nigerian Stock Exchange (NSE) on Tuesday showed an impressive performance.

The financial results released by the flour miller today is for the third quarter ended December 31, 2017.

A breakdown of the statements showed that the firm posted profit after tax of N2.8 billion compared with N1.3 billion achieved in the same period of 2016.

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Business Post reports that the company’s revenue grew to 54.7 billion from N38 billion, while the gross profit increased to N12.6 billion from N11 billion achieved in the corresponding period of 2016.

Furthermore, the operating profit stood at N7.1 billion as at December 31, 2017, in contrast to N5.8 billion as at December 31, 2016.

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Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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