Honeywell Flour Mills Plc office
Honeywell Flour Mills Plc last week reported a profit growth of 36 per cent for the half year ended June 30, 2012; thereby raising investors’ hope for a higher dividend at the end of its current financial year ending March, 2013.
In its unaudited result made available to Nigerian Stock Exchange (NSE), the company, one of Nigeria’s leading Fast Moving Consumer Goods (FMCG) companies, recorded a turnover of N21.93 billion in 2012. This showed a growth of 17 per cent above the N18.68 billion in the corresponding period of 2011.
Profit before tax rose from N1.32 billion to N1.79 billion, while profit after tax grew by 36 per cent from N959 million to N1.309 billion, reflecting the company’s ability to contain costs while achieving increases in sales.
*details to come later