Sales volumes crash for Northern Nigeria Flour Mills Plc

Northern Nigeria Flour Mills Plc released its third-quarter results for the period ending December 2020

  • Revenue of N2.1 billion  (-16% YoY).
  • Cement volumes in metrics tonnes 7.834 vs 13,064
  • Operating expenses of N162 million (+90.5% YoY)
  • Loss per share -53 kobo versus -33 kobo YoY
  • The company share price of N8.75, up 29.82% YTD.
  • The stock is trading at 55% to its Net Book Value and a price-earnings multiple of N4.7

Bottom Line: The crash in volumes was the major reason for the losses. The company has lost more ground to the competition.  This company could be a target for a merger soon.

See link to results.

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