Northern Nigeria Flour Mills Plc has closed its financial year ending March 31, 2025, on a high note — recording a pre-tax profit of ₦2.8 billion, up by over 25% from the prior year.
The company’s financial growth was anchored by a significant boost in revenue, which reached ₦35.3 billion, an increase of over ₦9 billion compared to the ₦25.9 billion posted last year.
A breakdown of the sales shows that wheat-based goods led the charge, contributing approximately ₦19.8 billion. This was followed by ₦10.2 billion from maize-related products, while sorghum accounted for ₦3.03 billion. The remaining earnings came from other product lines.
Despite a rise in production and distribution costs — which climbed to ₦30.2 billion, a 35% increase year-on-year — NNFM still achieved a gross profit of ₦5.1 billion, up from ₦3.5 billion, marking a strong performance under pressure.
Earnings from non-core business activities rose sharply to ₦138.3 million, largely from freight cost recoveries and miscellaneous income, representing a more than 200% jump from the previous year.
Though administrative expenses more than doubled — hitting ₦2.09 billion, the company still managed to grow its operating profit to ₦2.8 billion, up from ₦2.3 billion.
Additionally, a drop in finance charges — down from ₦21.6 million to ₦12.7 million — helped ease financial strain and supported stronger profit margins.
On the balance sheet, total assets rose to ₦30.5 billion, marking a 70% growth, while retained earnings climbed to ₦4.4 billion, a gain of nearly 57%.
Snapshot of Key Metrics:
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Total Revenue: ₦35.3 billion (↑ 36%)
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Cost of Sales: ₦30.2 billion (↑ 35%)
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Gross Profit: ₦5.1 billion (↑ 45%)
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Operating Profit: ₦2.8 billion (↑ 24%)
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Profit Before Tax: ₦2.8 billion (↑ 25%)
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Other Income: ₦138.3 million (↑ 204%)
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Administrative Costs: ₦2.09 billion (↑ 116%)
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Total Assets: ₦30.5 billion (↑ 70%)
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Retained Earnings: ₦4.4 billion (↑ 57%)
By the end of trading on June 2, 2025, NNFM’s stock was valued at ₦138.90, showing a remarkable 216.4% increase year-to-date.
