Northern Nigeria Flour Mills Plc (NNFM) has ended its financial year on March 31, 2025, with a robust performance, posting a pre-tax profit of ₦2.8 billion — a 25% increase over the previous year.
This growth was driven by a significant surge in revenue, which climbed to ₦35.3 billion — up by over ₦9 billion from the ₦25.9 billion recorded in the preceding year.
A closer look at the revenue mix reveals that wheat-based products were the top earners, generating ₦19.8 billion. Maize-based goods followed with ₦10.2 billion in sales, while sorghum contributed ₦3.03 billion. Other product categories made up the rest of the revenue.
Despite a sharp 35% increase in production and distribution costs, which rose to ₦30.2 billion, the company still delivered a gross profit of ₦5.1 billion, compared to ₦3.5 billion in the prior year — representing a 45% growth.
NNFM also saw a significant boost in income from non-core operations, with other income rising to ₦138.3 million, largely from freight recoveries and miscellaneous sources. This marks a 204% increase from the previous year.
Although administrative expenses more than doubled to ₦2.09 billion, operating profit still rose to ₦2.8 billion, reflecting a 24% year-on-year growth.
Further supporting the company’s strong bottom line was a reduction in finance charges, which fell to ₦12.7 million from ₦21.6 million, easing financial pressure and improving margins.
On the balance sheet, NNFM’s total assets expanded significantly to ₦30.5 billion, a 70% increase, while retained earnings rose to ₦4.4 billion — a 57% year-on-year gain.
Key Financial Highlights (FY Ended March 31, 2025):
- Total Revenue: ₦35.3 billion (▲ 36%)
- Cost of Sales: ₦30.2 billion (▲ 35%)
- Gross Profit: ₦5.1 billion (▲ 45%)
- Operating Profit: ₦2.8 billion (▲ 24%)
- Profit Before Tax: ₦2.8 billion (▲ 25%)
- Other Income: ₦138.3 million (▲ 204%)
- Administrative Expenses: ₦2.09 billion (▲ 116%)
- Total Assets: ₦30.5 billion (▲ 70%)
- Retained Earnings: ₦4.4 billion (▲ 57%)
As of the close of trading on June 2, 2025, NNFM’s stock price stood at ₦138.90 — representing an impressive 216.4% year-to-date gain, underlining investor confidence in the company’s sustained growth trajectory.