Aug 2010 Financial News

NFM makes profit jump

Aug 11, 2010

National Flour Mills (NFM) recorded an unaudited profit for the first six months of 2010 of $13.1 million compared to $400,000 profit made in 2009.

In the unaudited six-month report published yesterday, NFM chairman Ganesh Sahadeo noted the company’s performance continued to improve despite revenues being weakened because of economic conditions.

Net profit improved from .2 percent in 2009 to 6.1 percent in 2010 while gross profit moved from 13.2 percent to 20.4 percent.

Sahadeo gave the assurance that the company will continue to manage costs effectively and is committed to its investment in the management information system in order to improve efficiency in business operations in an effort to maximise value to their shareholders.


Source:
Newsday
Wednesday August 11 2010

http://www.newsday.co.tt/business/0,125559.html