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Flour Mills of Nigeria’s First-Quarter Profit Declines by 30%

Aug. 10 (Bloomberg) -- Flour Mills of Nigeria Plc, 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.

Link to Company News:{FLOURMIL NL <Equity> CN <GO>}

To contact the editor responsible for this story: Alastair Reed at areed12@bloomberg.net

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