News and analysis for the global poultry industry.
Industry News & Trends / Business & Markets / Livestock Feed Manufacturing / Africa
on July 20, 2017

Flour Mills of Nigeria feels effects of recession

Company saw substantial increase in revenue, but 40 drop in profit

Despite a substantial increase in revenue for the financial year ending March 31, 2017, agro-food group, Flour Mills of Nigeria (FMN), recorded a drop of almost 40 percent in profit from the previous year.

Group profit after tax for the year of just over NGN8.8 billion (US$28.0 million) compares with…

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