GSK and Flour Mills Nigeria plc Declare results.
March 30th, 2008 Ikechukwu Emelike || ikechukwu@stockmarketnigeria.com
By Ikechukwu Emelike
GSK plc and Flour Mills Nigeria plc has released thier financial results to the floor of the Nigerian Stock Exchange.
GSK plc
GlaxoSmithKline consumer Nigeria plc released its audited results for the period ended 31 December 2007. In the result the company’s turnover decreased by 4.53 percent from N10.38 billion in 2006 to N9.91 billion in 2007. Profit before tax also reduced by 23.68 percent from N1.52 billion in 2006 to N1.16 billion in 2007.
After tax profit did not escape the negative trend as it also decreased by 22.5 percent from N1.08 billion in 2006 to N0.83 billion in 2007 .
The company has proposed a dividend payout of 45 kobo per ordinary share. Its closure date is 5 May 2008 and the payment date is 28th May 2008.
Flour Mills Nigeria plc
Flour Mills Nigeria plc released its third quarter result for the period ended 31 December 2007. A break down of the results showed that the results were impressive compared to its result in the same period last year.The company was able to increase its turnover by 26.31 percent from N58.98 billion in 2006 to N74.50 billion in 2007. Profit before tax decreased by 6.46 percent from N5.57 billion in 2006 to N5.21 billion in 2007. After tax profit also decreased by 6.67 percent from N3.90 billion in 2006 to N3.64 billion in 2007.
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