Wednesday, October 6, 2010
The future is bright –Dangote Flour Mills MD
The management of Dangote Flour Mills Plc recently had a good reason to show off its almost three years balance sheet to the media with an assurance by the Managing Director that the future is bright. According to the audited balance sheet of the year ended December 31, 2009, the group had a turnover N61.3million in 2009 and posted a profit after tax of over N5.5million while Flour Mills operated a turnover of N41.8million and came out with a profit after tax N5.3million.
The half year report of 2010 showed that the group turned over N37.4million with a profit after tax of N4.5million. Within the same period the company posted a profit after tax of N24.07million.
Within the period under focus, the company registered a significant improvement in its production and market performance. Between 2008 and 2009, production of flour, the major product of the company increased by 41 per cent which expectedly impacted positively on the company’s balance sheet.
Story By NETA NWOSU