Flour Mills of Nigeria plc on October 27th, 2020 released its 2020 quarter three financial report, which showed that the company soared in its topline figures for the period ended September 30th 2020 by 31.15 % to settle at N355.11 billion away from the previous turnover of N270.76 billion recorded in 2019.
The company third quarter result released by the Nigerian Stock Exchange (NSE), revealed an upsurge in Profit before Tax of 69.17% to stand at N14.6 billion from N8.6 billion recorded in the preceding period of 2019.
The profit after tax during the period under review grew by 68.26%, closing at N9.9 billion as against N5.9 billion in the corresponding period.
The earnings per share also grew by over 68% from previous year’s N1.44 to current period’s N2.42.
The current period’s PE Ratio is at 10.94x while the earnings yield stands at 9.14% with a reference stock price of N26.50 at the released date.