Honeywell Flour Mills Plc has released its results for the financial year ended 31st March 2025, recording a pre-tax profit of N21.39 billion.

This marks a strong recovery from the N8.5 billion loss reported during the same period in 2024, driven by a significant reduction in exchange losses and a surge in revenue.

Total revenue stood at N373.5 billion, up 98.35% from N188.3 billion recorded in the same period last year.

However, the cost of sales rose significantly to N341.2 billion, a jump of 118.80%, which offset most of the revenue growth.

On the positive side, other income increased to N4.9 billion from N2.2 billion the year before. This was mainly due to sundry income of N3.5 billion and government grant income of N1.1 billion.

The company reported administrative expenses of N12 billion, a sharp rise of 244.3%, while selling and distribution expenses increased by 79.8% to N4.5 billion.

Nevertheless, the company’s profitability was supported by finance income of N8.5 billion—mainly from a realized exchange gain of N5.8 billion—and a reduction in finance costs from N36.2 billion to N5.4 billion.

On the balance sheet, retained earnings rose to N7.8 billion for the quarter, up from a N6.9 billion loss a year earlier.

As of market close on 30th May 2025, shares of Honeywell Flour Mills were priced at N21.00, reflecting a year-to-date performance of 233.33%.