Jul 2015 Financial News

NFM posts $20.57m profit

Jul 24, 2015

FOOD producer National Flour Mills (NFM) has posted an after tax profit of $20.57 million for the six-month period ended June 30.

This was “significantly better” than the same period in 2014 with earnings per share of 17 cents in 2015 compared to five cents in 2014, NFM chairman Michael Bazie said in his review of the company’s performance posted on the Stock Exchange’s website yesterday.

NFM recorded a profit after tax of $6.7 million for its half-year in June 2014.

The improved performance this year was “driven by an increase in sales of 15 per cent and the implementation of strategies in grain purchasing, management of our working capital and overall plant productivity”, Bazie stated.

The latter half of 2015 will see a continuation of these initiatives along with “accelerated training of the workforce and a strengthening of the commercial culture of the organisation”, he added.

Source:
Trinidad Express
Friday July 24, 2015

http://www.trinidadexpress.com/20150723/business/nfm-posts-2057m-profit