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Honeywell Flour’s Earnings Top N10.7 billion in Q1, 2012 Result

By Afolabi Ogunde on September 21, 2012

Honeywell flour transmitted its Q1, 2012 result to the floor of the Nigerian Stock Exchange earlier this week.

The company reported headline revenue of N10.7 billion, up 15% from N9.3 billion recorded over the first quarter of 2011.

Gross profit came in at N1.9 billion, up 101% from the N954 million recorded over the similar period in the previous year.

Cost of sales ate deep in to the headline revenue as the company reported the figure to be N8.8 billion, up 6% from N8.3 billion expended last year.

Profit before tax was N696 million, up 603% from the n99 million reported in Q1, 2011.

Net income arrived at N475 million, up 932% from N46 million made over the same period last year.