Strong organic growth was seen with a sustained progress in product innovations and transformation in exciting markets as well as operational efficiencies.
Speaking to Daily Trust on the results, the Group Managing Director, Omoboyede Olusanya, said Flour Mills emerged from the prevailing COVID-19 environment as a stronger, more resilient, flexible and confident business as a result of the collective strategic actions made over its 60 years history.
“FMN attained strong revenue growth, largely driven by the increase in volumes of production with a six percent increase compared to the previous year. Financial Year (FY) and Q4’21 Profit After Tax (PAT) more than doubled as it reached N25.7 billion, up from 11.4bn in 2019/2020 (127% YoY Growth).