Lower borrowing cost boosts Flour Mills’ Q1 profit by most in 4 years

Flour Mills of Nigeria, the biggest flour miller by market value grew its Q1 2019/20 profit by the most since 2016 helped by a pick-up in sales, lower tax expense and a significant cut in borrowing cost in the period. The miller saw profit jack up by 16.11 percent to N4.24 billion compared to N3.