Flour Mills of Nigeria

Omoboyede Olusanya appointed to the Flour Mills Nigeria Board of Directors

August 17, 2020August 27, 2020 Frank

NIGERIA – Omoboyede Oyebolanle Olusanya, Flour Mill Nigeria’s Group Chief Operating Officer has been appointed to join the Board of Directors of the company. Flour Mills of Nigeria Plc, a leading Integrated Food and Agribusiness giant, made the announcement in a disclosure notification sent to the Nigerian Stock Exchange and signed by Company Secretary, Joseph Umolu. A report by Nairametrics noted that the appointment of Olusanya will increase the Board’s membership to 14. Omoboyede Olusanya, recently joined Flour Mills as the Group Chief Operating Officer, from 9Mobile where he was…

Flour Mills of Nigeria reports triple digit growth in profit after tax to US$30m despite economic headwinds

August 10, 2020August 28, 2020 Frank

NIGERIA – Flour Mills of Nigeria (FMN), one of Nigeria’s leading food business and agro-allied groups, has announced a 9% growth in revenue to N574 billion (US$1.51bn) for the year ended March 2020, compared to N527 billion (US$1.39bn) achieved in 2018/19 full year. The rise in revenue, according to the company is attributed to strong growths in all three key segments of Food, Agro- Allied and Sugar, despite prevailing economic headwinds and the difficult operating terrain of Apapa, Lagos. The company’s profit before tax saw a tremendous increase of 72% to…