Flour Mills posts 24.4 percent drop in half-year profits

Flour Mills of Nigeria said on Friday its full-year to March 31, pre-tax profit dropped 24.4 percent to 8.22 billion naira ($50.94 million), compared with 10.88 billion naira the previous year.

Gross earnings however climbed to 332.14 billion naira from 301.94 billion in the same period last year, the company said in a filing with the Nigerian Stock Exchange.