Honeywell Flour Posts Impressive Profit After Tax of N2.8billion

Honeywell Grew Profits By 73% To N1.1bn

Honeywell Flour Mills Plc,on Tuesday, January 30, released its unaudited financial statements for the third quarter ended December 31, 2017 to the Nigerian Stock Exchange, NSE.

The financial results, which revealed an impressive performance, showed a breakdown of the statements showed that the firm posted profit after tax of N2.8 billion compared with N1.3 billion achieved in the same period of 2016.

The company’s revenue grew to 54.7 billion from N38 billion, while the gross profit increased to N12.6 billion from N11 billion achieved in the corresponding period of 2016.

Furthermore, the operating profit stood at N7.1 billion as at December 31, 2017, in contrast to N5.8 billion as at December 31, 2016.


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