Honeywell Flour records N2.8b Profit After Tax

Honeywell Flour records N2.8b Profit After Tax

By Tunde Osho

Honeywell Flour Mills Plc, has released its unaudited financial statements for the third quarter ended December 31, 2017 to the Nigerian Stock Exchange, NSE, which revealed an impressive performance of N2.8 billion profit after tax compared with N1.3 billion achieved in the same period of 2016.

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.