TICKER: Money Mill: Dangote Flour posts N2.61bn profit

Dangote Flour Mills has recorded  a gross profit of N2.61 billion for the first quarter ended March 31, 2012. The foremost flour miller earned revenue of N13.80 billion in the same period.

The company in a statement weekend said the management would continue to work hard so as to deliver improved returns to shareholders in the 2012 financial year.

According to the statement, Dangote Flour Mills would perform better as the expansion project of the company to enlarge its manufacturing and packaging facilities, which started some years back is almost complete.

It stated “dedicated plant for production of our wheat meal brand Alkama and Danvita would soon be ready for commissioning any moment from now. This would no doubt, tremendously boost our top line growth this year as plans are already in place to massively launch the products
and increase the distribution networks to all the
hinterlands.”

The company has significantly raised its capacity over the past decade in anticipation of soaring demand for bread flour and, more recently, semolina, pasta and noodles.

Dangote Flour Mills has expanded its manufacturing capacities across the country. The investment is despite the global economic meltdown while direct export into Chad, Cameroon, Niger and the West Coast has kicked off.

The direct export goes on side by side with ongoing indirect export of Dangote Flour products through the activities of middlemen and customers. The company plans to control a major chunk of the 295 million population within the Economic Community of West African States (ECOWAS) market, stressing that it remains thoroughly Nigeria-centric dedicating 80 per cent
of its capacity to domestic market, and the remaining for the region.

-Vanguard

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