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Dangote Flour Mills posts fiscal Q2 loss

Dangote Flour Mills PLC said its normalized net income for the fiscal second quarter ended March 31 amounted to a loss of 2.55 billion nairas.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin was 22.2%.

Total revenue totaled 11.31 billion nairas, and total operating expenses totaled 12.09 billion nairas.

Reported net income totaled a loss of 3.88 billion nairas, or a loss of 78 kobo per share.

As of May 5, US$1 was equivalent to 199 nairas.