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1. Head Office:
15, Maimalari
Road,
Bompai Industrial Estate,
P. O. Box
6640, Bompai, Kano
Tel: 234-064-637166, 64165, 647666, 634850, 634735
Fax: 234-064-639758
Telex: 77114 - Kano
Cables: Normills, Kano
Telegrams: Mormilco, Kano
2. Nature of Business:
Flour Milling
3. Date of Incorporation:
September, 1971
4. Date Listed on The Exchange:
1978
5. NSE Classification:
Food, Beverages & Tobacco
6. Board of Directors:
Alhaji (Dr.) Aminu Dantata, OFR - (Chairman)
Mr. George S. Coumantaros (V/Chairman)
Alhaji Rabiu M. Gwarzo (MD/CEO)
Chief (Sir) E. A. Ukpabi
Mr. John G. Coumantaros
Alhaji Y. O. A. Saliu
Alhaji Mahmoud Isa-Dutse
Alhaji Abbas A. Gashash
Alhaji Sani Dantata
Alhaji Sanusi A. Koguna
Mallam M. Bala Umar
7. Company Secretary:
Miyetti Nominees Limited
26, Post
Office Road,
Kano.
8. Joint Auditors:
* Akintola Williams Deloitte,
(Chartered Accountants)
Metro
Plaza
Zakariya
Maimalari Street,
Central Business District,
P. O. Box
3710, Garki, Abuja
Tel: 234-09-4614905, 6700059
Fax: 234-09-4614931
Website: www.deloitte.com
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* Aminu Ibrahim & Co.
(Chartered Accountants)
26, Post
Office Road
P. O. Box
4412, Kano
Tel: 234-064-633745
Fax: 234-064-635237
E-mail: amibraco@megatechnet.com
9. Company Registrars:
The Flour Mills Registrar Limited,
c/o Nigerian Bag Manufacturing Co. Ltd.
45, Eric
Moore Road,
Iganmu,
P. O. Box
341, Apapa
10. Subsidiaries/Associates:
Flour Mills of Nigeria Plc
Nigeria Bags Manufacturing Co. Limited
Kaboji Farms Limited
Maiduguri Flour Mills Limited
11. End of Accounting Year
31st March
12. Number of Employees
382
13. Capital Structure
i.Authorised:
N100,000,000
ii.Paid-Up: N74,250,000
14. Structure of Shareholding
Flour
Mills of Nig Plc - 4.5%
Dantata
Inv & Securities Ltd - 8.5%
Northern Nig Inv. Ltd - 8.0%
Kano State Inv & Prop. Co. Ltd - 6.8%
Jigwa State
Inv. & Prop Dev. Co. Ltd - 0.52%
Other Nigerian
individuals & Asso. - 31.7%
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FIVE-YEAR FINANCIAL SUMMARY
CAPITAL AND RESERVES: 2007 2006 2005 2004 2003
N‘000 N‘000 N‘000 N‘000 N‘000
Share capital 74,250 74,250 74,250 55,687 37,125
Share premium 89,521 89,521 89,521 89,521 89,521
Reserve for bonus issue - - - 18,562 18,562
Revenue reserve 444,658 629,957 612,012 539,465 452,940
Deferred taxation 52,492 52,492 37,281 22,330 16,248
———— ———— ———— ———— ———
660,921 846,220 813,064 725,565 614,396
====== ====== ======= ======= ======
ASSETS EMPLOYED:
Fixed Assets 334,056 286,573 216,134 135,109 101,283
Investment 32,308 32,308 31,348 31,348 -
Current assets 1,567,444 1,600,086 1,679,752 1,434,410 1,150,992
———— ———— ———— ———— ————
Total assets 1,933,808 1,918,967 1,927,234 1,600,867 1,252,275
Creditors & other liabilities (1,272,887) (1,072,747) (1,114,170) (875,302) (637,879)
———— ———— ———— ———— ——-——
660,921 846,220 813,064 725,565 614,396
======= ======= ======= ======= =======
TURNOVER, PROFITS TAXATION
AND DIVIDEND
Turnover 4,784,224 4,883,651 5,414,843 3,786,915 4,243,386
======= ====== ====== ====== ======
(Loss)/profit before
taxation (93,592) 83,866 212,383 204,070 219,396
Deferred taxation provision - (15,211) (14,951) (6,082) 2,859
Taxation (104,406) (13,584) (50,635) (59,489) (73,022)
———— ———— ———— ———— ————
(Loss)/profit after taxation (104,406) 55,071 146,797 138,499 149,233
Appropriation
Dividend - 37,125 74,250 33,412 37,125
Reserve for bonus issue - - - 18,562 18,562
General reserve (104,406) 17,946 72,547 86,525 93,546
----------- ----------- ----------- ----------- -----------
(104,406) 55,071 146,797 138,499 149,233
====== ====== ====== ====== ======
Earnings per share (k) (70) 37 99 93 100
Dividend per Share (k) - 25 50 22 25
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