Flour Mills says Q1 profit down 24.5 percent

Flour Mills of Nigeria’s pretax profit for the first-quarter fell 24.5 percent to N3.54 billion ($21.8 million) from the N4.69 billion recorded a year ago

Turnover declined to 9.71 billion naira in the three months to June 30, compared with 10.49 billion naira in the same period of last year, it said in a filing with the Nigerian Stock Exchange.