Honeywell Flour Mills Plc reported a profit after tax of ₦2.6 billion for Q2 2025, compared to ₦1.3 billion in Q2 2024.
Group Performance
For the Group, revenue declined by 16.2% to close at ₦67.49 billion, down from ₦80.51 billion in Q2 2024. Despite the revenue drop, gross profit increased to ₦7.20 billion from ₦6.58 billion last year.
Operating profit declined from ₦4.48 billion posted in Q2 2024 to ₦2.69 billion as the rise in selling and administrative expenses nearly doubled to ₦4.67 billion from ₦2.35 billion.
The Group recorded a ₦1.01 billion foreign exchange gain, reversing a loss of ₦1.14 billion in the prior-year quarter, while finance income of ₦729 million further supported earnings despite higher financing costs.
Company Performance
On a company-only basis, revenue matched the Group’s ₦67.49 billion, down from ₦80.51 billion in the same quarter of 2024. Operating profit came in at ₦2.71 billion, compared with ₦4.48 billion a year earlier.
Profit before tax for the Company reached ₦3.38 billion while profit after tax closed at ₦2.62 billion, up from ₦1.32 billion in Q2 2024.
Earnings per Share
Basic earnings per share for the Group stood at 32.82 kobo, while the Company reported 33.06 kobo, both higher than the 16.67 kobo declared in the corresponding quarter of 2024.
Outlook
The Q2 2025 results reflect Honeywell Flour Mills’ continued resilience in managing foreign exchange volatility and input cost pressures.
The company remains focused on cost optimisation, margin protection, and operational efficiency to sustain earnings growth through the second half of 2025.
