Dangote Flour Mills on Friday reported a profit before tax of N2.64 billion for the half year ended June 30, after its re-acquisition from Tiger Branded Consumer Goods.
A statement issued by the company in Lagos said the profit before tax was against a loss of N9.55 billion posted in the corresponding period of 2015.
Its gross profit stood at N14.03 billion during the period, while profit from operating activities rose to N8.47 billion.
The statement said that the financial performance was heart-warming, given that the Dangote Flour Mills recorded losses in the past.
It attributed the growth to THE restructuring strategy embarked upon by the new board and management after the company’s re-acquisition, which included the reopening of the closed Dangote Flour Mills in Kano.
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