Flour Mills of Nigeria Plc on Tuesday published its third quarter financial report for the 9 months ended 31, December 2020 on the website of the Nigerian Stock Exchange. The accounting year of Flour Mills of Nigeria Plc is different from what obtains in most other quoted firms on NSE; It usually end in March and that explains why the third quarter report falls within the full year report of others.
The Group achieved a reported a turnover of N555.34 billion, up by 31.14% from N423.48 billion reported in Q3 2019.
Flour Mills for the nine months period achieved a profit after tax of N15.58 billion, up by 90.94% from N8.16 billion reported same period in the previous year.
Earnings per share increased to N3.8 from the earnings per share of N1.99 which translates to 90.94% growth year on year.
At the referenced share price of N35, P.E ratio of Flour Mills of Nigeria stands at 9.21x with earnings yield of 10.86%.