FLOUR MILLS OF NIG. Half year PAT plunged by 19.47% to N3.6 billion in H1’18.

Flower Mills Nigeria PLC, unaudited reports for the half year ended 30th June 2018 was released to the market on 31st July 2018. The reports showed a marginal decline in topline figures to N133billion, from N148billion recorded in the preceding period of 2017. This when compared represents a 10.70% year on year decline in revenue.

The profit after tax for the period under review also declined from N4.5b in 2017 to N3.6b in the current reports, which imply 19.47% drop in profit.

The earnings per share also declined by 19.47% falling from N1.11kobo of 2017 to N0.89kobo in the period under review.

The PE Ratio for the current period stands at 32.2x and the earnings yield at 3.15%.

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