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.