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FLOUR MILLS NIGERIA PLC

Nature of Business: Flour millers, Bulk cement handlers. Also manages the mills of Niger mills company plc and Maiduguri flour mills limited.

Head Office Address: Apapa Mill, 2, Old Dock road, P.O.Box 341, Apapa, Lagos.

Telephone: N/A.

Fax:  N/A.

Telex: N/A.

Email: N/A.

Website: N/A.

Date of Incorporation: 29.9.69.

Date Listed on the Lagos Stock Exchange: 14.8.79.

Joint Auditors: Akintola Williams Adetona Isichie  (Chartered Accountants), Lagos;  KPMG Audit (Chartered Accountants), Lagos.

End of Accounting Year: 31st March..

5-Year Financial Summary

 

Flour Mills Nigeria PLC    5-Year Financial Summary    1995 - 1999

 

CAPITAL EMPLOYED 1999 1998 1997 1996 1995
N'000 N'000 N'000 N'000 N'000
ASSETS:
Fixed Assets 3,512,122 2,147,885 1,544,820 1,398,110 493,363
Associated Company 265,900 236,241 193,035 172,844 86,729
Trade Investment 2,050 1,200 1,200 1,200 1,200
Net Current Assets (389,680) 626,390 649,633 510,545 253,451
Deferred Tax (474,931) (281,071) (150,006) (100,909) (38,756)
2,915,461 2,730,645 2,238,682 1,981,790 795,987

CAPITAL & RESERVES:
Share Capital 195,000 130,000 130,000 97,500 97,500
Capital Reserve 836,868 836,868 836,868 836,420 24,281
General Reserve 1,883,593 1,763,777 1,271,844 1,047,870 674,206
2,915,461 2,730,645 2,238,682 1,981,790 795,987

TURNOVER & PROFIT:
Turnover  21,456,312 16,712,311 13,078,536 10,193,480 4,508,660
Profit before Tax 683,903 1,002,276 617,700 601,175 497.761
Profit after Tax 379,816 673,963 412,444 471,164 342,427
Dividend (195,000) (182,000) 156,000 97,500 78,000
Retained Profit 184,816 491,963 256,444 373,664 264,427
Earnings per Share (in kobo) 97 173 106 121 88
Dividend per Share (in kobo) 50 47 40 25 20
Dividend Cover (Times) 1.9 3.7 2.6 4.8 4.4

Earnings and dividend per share are based on 390,000,000 ordinary shares of 50kobo each Earnings per share are based on profit after tax.

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