EARNINGS BROADCAST: Audited FY’16 Results for FLOUR MILLS OF NIGERIA PLC

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Dear Investor,

Please find below the Audited FY’16 Results for FLOUR MILLS OF NIGERIA PLC

FLOUR MILLS OF NIGERIA PLC

AUDITED RESULT FOR THE YEAR ENDED 31ST MARCH, 2016

Sector:

CONSUMER GOODS

Per share Data

Current Price (N)

21.50

52 Weeks High/Low (N)

34.05/15.93

Shares Outstanding

2,624,237,187

Market Capitalisation

56,421,099,520.50

Period

FY 2016

FY 2015

% Growth

Income Statement

N’ Million

N’ Million

Revenue

342,586.46

308,756.53

10.96

Cost of Sales

(304,961.74)

(273,389.57)

11.55

Gross Profit

37,624.72

35,366.96

6.38

Selling and Distribution Expenses

(5,003.80)

(4,184.38)

19.58

Administrative Expenses

(15,848.26)

(20,281.76)

-21.86

Net Operating Gains and Losses

(7,720.52)

(685.05)

1027.00

Operating Profit

9,052.14

10,215.77

-11.39

Gain on Disposal of Investment in Associate

23,731.42

14,289.95

66.07

Investment Income

1,103.48

2,303.59

-52.10

Finance Costs

(22,397.76)

(18,703.53)

19.75

Loss from Equity Accounted Investments

(381.01)

Profit Before Tax

11,489.28

7,724.77

48.73

Net Income Tax Credit

2,931.01

738.29

297.00

Profit After Tax

14,420.28

8,463.06

70.39

Profit Attributable to:

Owners of the Company

14,620.32

9,016.55

62.15

Non-Controlling Interests

(200.04)

(542.20)

-63.11

Balance Sheet

FY 2016

FY 2015

% Growth

N’ Million

N’ Million

Total Assets

345,348.33

343,260.83

0.61

Total Liabilities

249,582.55

255,850.44

-2.45

Shareholders’ Fund

95,765.77

87,410.40

9.56

Fundamental analysis

FY 2016

FY 2015

% Growth

Earnings Per Share (EPS) (N)

5.57

3.44

62.15

P.E (x)

3.86

6.26

-38.33

PBT Margin (%)

3.35%

2.50%

34.05

PAT Margin (%)

4.21%

2.74%

53.56

Net Asset Per Share (N)

36.49

33.31

9.56

ROA%

4.18%

2.47%

69.36

ROE %

15.06%

9.68%

55.52

Corporate Action

FY 2016

FY 2015

Proposed Dividend – Final (Naira)

1.00

2.10

-52.38

Regards,

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