Honeywell Flour Mills Plc has released its audited financial report for the year ended 31 December, 2018 on 28th June 2019 in which the Company’s Gross Earnings grew by 4.10% to close at N74.409 billion against the previous close of 71.476 billion in 2017.
Profit after Tax (PAT) closed at N68.368 million dropping by about 98% from N4.426 billion previously recorded in 2017.
The earning per share of the group is N0.01 against the previous EPS of N0.56 in 2017.
With reference to its share price of N1.01, the PE ratio of the company stands at 117.15x with earnings yield of 0.85%
Honeywell Flour Mills Plc (HFMP) is a major flour milling company in Nigeria and was initially registered as Gateway Honeywell Flour Mills Limited in 1985. However, in June 1995, a change in the company ownership structure led to a change of name to Honeywell Flour Mills Limited (HFML).
The entry of the company into the flour milling industry in Nigeria redefined industry standards as its high quality compelled an improvement in the quality of flour products by other players. Over the years HFMP has positioned itself as a market leader in milling, processing & packaging of flour and other wheat based products.
After its initial public offering (IPO) in 2008, the company became a public liability company and was listed on the Nigerian Stock Exchange (NSE) in 2009.
Honeywell Flour Mills Plc produces and markets seven major product brands:
- Honeywell Superfine Flour
- Honeywell Wheat Meal
- Honeywell Semolina
- Honeywell Noodles
- Honeywell Pasta
- Honeywell Composite flour
- Honeywell Brown Flour