Honeywell Flour Mills Achieves 1,115% Profit Surge

Honeywell Flour Mills (NGX: HONYFLOUR) Plc recorded a pre-tax profit increase of 1,115.17% to N31.40 billion for the six months ending September 30, 2026, compared to N2.58 billion in the same period of 2025. This growth was supported by stronger operating margins and improved segment performance.

The company's unaudited half-year financial statements, filed with the Nigerian Exchange on October 30, 2026, revealed a revenue increase of 41.29% to N233.79 billion from N165.47 billion. The pre-tax profit surpassed the N21.90 billion reported for the full financial year ending March 2026.

Profit after tax rose to N22.61 billion from N1.62 billion. Key factors in the earnings improvement included stronger gross profitability, lower operating expenses, and a shift from net finance expense to net finance income.

Operating profit for the half-year reached N28.15 billion, indicating a recovery supported by operational performance. Total borrowings increased by 60.92% to N52.27 billion, reflecting greater reliance on short-term financing.