Flour Mills of Nigeria Says Its Profit Declined 30% During First Quarter

Flour Mills of Nigeria Plc (FLOURMIL), which processes grains and sells cement, said its first-quarter profit fell 30 percent as revenue climbed.

Net income for the three-month period declined to 2.28 billion naira from 3.27 billion naira a year earlier, the company said in a statement published on the website of the Nigerian Stock Exchange today.

Revenue advanced to 45.9 billion naira from 43.5 billion naira, Flour Mills said.

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