https://fmnplc.com/brand-cat/agro-allied/

FMN Group

 
FMN ADVISES INDIVIDUALS TO KNOW THEIR STATUS AS IT MARKS WORLD AIDS DAY

Over the past 15 years there has been remarkable progress in the fight against HIV/AIDS and this has inspired a global push to eradicate the virus by 2030.

Without a cure yet, such a goal can only be achieved by creating awareness and giving education on prevention of HIV/AIDS.

To commemorate World AIDS Day 2017, the management of Flour Mills of Nigeria Plc organized a series of activities from testing to counseling designed to sensitize and encourage their staff to engage in the discussions on HIV/AIDS.

It is time to unite and take action against this global disaster.

Of the 35 million people currently living with the virus all over the world, 3.2 million are Nigerians and while we strive to prevent new cases, we must ensure that there is adequate care; medical, social and otherwise.

The Group Managing Director of FMN reiterated the company’s commitment to this cause in the speech he gave during the event.

“We will continue to abide by our non-discriminatory policy on having HIV positive people in our employment and continue to provide the right support to our colleagues who are living with the disease.”

World AIDS Day is a global event held on the 1st of December each year to unite people around the world in the fight against HIV and to support people living with the virus. “Everybody counts. Right to health” was the theme for this year’s event.

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WAD7

 
FLOUR MILLS GROUP REPORTS N298.44 BILLION IN REVENUE FOR 2017 HALF YEAR

The Flour Mills of Nigeria (Group) announces a revenue of N299.44 Billion in its unaudited 2017 half year report. The figure is a 17% increase from N255.30 billion for the same period the previous year. The Report also shows profit before tax at 13.48 Billion and profit after tax at 9.36 Billion a significant increase from 8.88 Billion and 6.46 billion respectively for the previous year.

 

The Flour Mills of Nigeria (Company) also recorded a 16% increase in revenue of compared to the same period last year in 2016. It also achieved a 51% increase in Profit compared to same period last year.

 

Commenting on the results, the Group Managing Director, Paul M. Gbededo, stated, “Our half year results show continued growth through most segments of our business, especially in the food business, delivering strong top and bottom line financials in line with our objectives. The Group recorded growth from volume and product mix. This growth was despite what continued to be challenging business environment. Overall, the business shows an impressive performance in the first half of the year. We are positive that we are on track to meet our growth targets for the remaining part of 2017/18 financial year.”

 

Based on the Operational review, the Food business value chain has an increase of 40bn of its group’s turnover. The Group’s Chief Finance Officer, Mr. Jacques Vauthier, said that the Management of the Company is confident that this sector will record even stronger performance as the year progresses. In his words, “to this end, we are enhancing our marketing activities to push the brand’s presence into newer outlets while strengthening present market share.”

 

Mr. Sadiq Usman, Head of FMN Group Corporate Business Development said that for the Agro-allied division, the Group’s focus will remain on developing competences and improving execution capacity to backwardly integrate its core value chains; sugar sweeteners, edible oils, feeds & proteins and cassava starches. He further stated: the Group will leverage its significant resources and continue to build the capacity of local farmers and farming groups, who are an integral part of our strategy to develop sustainable, locally-focused supply chains.”

 

As part of a strategic measure to consolidate operations, create value for shareholders and enhance administrative and operating efficiencies, the company in Q2 2017, announced the completion of a merger and absorption of Golden Penny Rice Ltd, a wholly owned subsidiary into Flour Mills of Nigeria Plc. It is expected that the restructuring will meaningfully improve the synergies of the Group, reduce costs and improve the competitiveness of the company’s products, with the aim of advancing the profitability of the Group.

 

The Company is in the process of issuing the first tranche of the Shelf Registered Rights Issue fund raising program. The program which was registered in 2016 is to raise up to N40 Billion in equity funds. In addition, the CFO informed that the Company has started the registration of a N70 billion Medium Term Notes program to refinance debts and lower the cost of borrowing.

 

Despite the challenging economic realities, FMN Group’s commitment to feeding the nation has led to an impressive and continuous growth in most segments of its business as revealed by the unedited half year results.

 

 
FMN Plc commissions Vocational Center for Special Needs Children in Apapa

As part of her Corporate Social Responsibility activities and community outreach projects, Flour Mills of Nigeria Plc. recently commissioned a newly built vocational center for special needs children at the Methodist Primary School in Apapa.
The project which was executed under the direct supervision of the Lagos State Universal Basic Education Board (SUBEB), was developed in partnership with the Care-giver initiative, a Non-Governmental Agency based in Lagos.


Speaking at the unveiling ceremony held recently, Mr. Joseph Umolu, the Company Secretary, Flour Mills of Nigeria Plc. disclosed that Education and Welfare were core pillars of focus for FMN’s Corporate Social Responsibility strategy.

The development of the new vocational center will provide not just a conducive environment for learning, but will offer vocational skills to children with disabilities and enable them to become self-reliant and productive members of their communities.

The newly built center which was completely funded by Flour Mills of Nigeria Plc., is equipped with desks and chairs, several laptops, industrial sewing machines, cobbler tools and other vocational training tools to aid learning.

On her part, Mrs. Ruth Hart, the Project Coordinator, Care-giver initiative, expressed her thanks and appreciation to Flour Mills of Nigeria for the support. She informed that Care-giver initiative was passionate about promoting inclusive education for children with disabilities in Nigeria, and that the new center will provide amongst others, training for fashion design and dress making, hair dressing, Shoe making, and computer appreciation.

The commissioning ceremony was also attended by Mr. Bella Olusegun, who represented the Executive Chairman SUBEB, Mrs. Olawepo F.O. Educational Secretary Apapa, Mrs. Aliu G.O Head Teacher Methodist Primary School Apapa, Mr. Ogunjinrin Israel H.O.S Social Mobilization L.G.E.A Apapa, Mr. Ojekunle Samuel L.G.E.A Secretary, and Mr. Waribo Hart, Co-coordinator, Caregiver.

The Methodist Primary School multimillion-naira vocational centre is an FMN welfare and education intervention for the good of the local community.

Feeding the Nation