Nigeria’s Dangote Flour Mills Reports Huge Nine Months Profit

ALHAJI ALIKO DANGOTE.

Lagos (THEWILL) – Dangote Flour Mills Plc has reported a mind boggling pre-tax profit of N8.64 billion naira ($54.6) million US dollars for the nine months ending in September 2009.

The company grew its gross income to N46.95 billion naira from 34.84 billion, which it reported last year.

Dangote Flour Mills Plc commenced operations in 1999 as a member of the Dangote comglomerate, but was incorporated in 2006 after a Federal High Court Okayed a scheme of arrangement that saw all the assets and liabilities of the erstwhile flour division of the conglomerate transferred to the flour company.

Aliko Dangote is chairman of the company.