LAGOS, NIGERIA — Flour Mills of Nigeria reported on Feb. 3 that earnings for the first nine months were 19 million naira ($95,422) or 701 naira per share (diluted), up from 3.2 million naira or 101 naira per share in the same period of the last year.
The first nine months for the group were from April 2015 to December 2015.
The Food segment had revenue of 193,009,931 naira, up from 190,127,598 naira in the same period of last year.
Agro Allied, a division of the Flour Mills of Nigeria, earned revenue of 59,450,602 naira up from 38,618,321 naira in the same period of last year.
The groups Port Operations in the first nine months had revenue of 510,868 naira down compared to 644,541 naira in the same period of last year.
Flour Mills of Nigeria sold a 30% holding in United Cement Co. of Nigeria to Lafarge Africa in November 2015, Bloomberg reported on Feb. 3, which contributed to the earnings increase.