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Dangote Flour FY 2011 Results, Profits Slide Big, Declares 10k Dividend

By on May 23, 2012

Dangote Flour released its 2011 FY earnings financial statements yesterday.

The Flour, Noodles and Spaghetti maker reported sales of N 66.3 billion, down 2% when compared to the N 67.6 billion it made in 2010.

Manufacturing costs escalated by 4% to N 56 billion whilst Distribution and Administrative Costs improved by 15%.

An exceptional charge of N 1.48 billion caused profits to slump.

Profit before tax came in at N 396 million, down 92% from the N4.9 billion it made in 2010.

A tax credit of N 281 million helped boost Net Income to N 677 million, yet this performance was down 75% from the N 2.7 billion it made in 2010.

Company management has proposed a 10 kobo dividend.