The shareholders of Honeywell Flour Mills Plc have approved a dividend payment of 60 kobo for every 50 kobo ordinary share, amounting to a total of N475.8m for the 2018 financial year. The Chairman, Board of Directors, Honeywell Flour Mills, Dr Oba Otudeko, while speaking at the company’s 9th Annual General Meeting in Lagos on Thursday, said the company’s revenue grew by 34 per cent to N71.5bn within the period under review, as against N53.2bn recorded in the corresponding period of 2017. He said the gross profit also grew by 26 per cent from N12.7bn in the previous year to N16.1bn, while the profit after tax stood at N4.4bn. According to Otudeko, the company, in continuation of its focus on consistent delivery of profitable top line growth through high capacity utilisation, will commence commercial production from its Sagamu facility in October this year. He assured shareholders that in the new financial year, the company would remain committed to its vision to build market-strong, highly-desired and recognisable consumer brands that would be well distributed across Nigeria. Read More