Earnings Flash | Honeywell Flour Mill Plc 9M-2016 Results

Earnings Flash | Honeywell Flour Mill Plc 9M-2016 Results
Financial Highlights (N'Mn)
Headlines	9M- 2016	9M- 2015	Change
Revenue	37,974	39,775	-4.5%
Cost of sales	(27,003)	(31,675)	-14.7%
Gross Income	10,971	8,100	35.4%
Operating Profit	5,801	2,529
Investment Income	351	337	4.2%
Financial Expenses	(4,497)	(939)	378.9%
Profit/Loss Before Tax	1,655	1,927	-14.1%
Taxation	(332)	(442)	-24.9%
Profit/Loss After Tax	1,323	1,485	-10.9%
	9M-2016	9M-2015
Cash and cash equivalents	3,040	9,608	-68.4%
Trade & Other Receivables	2,492	1,690	47.5%
Trade & Other Payables	14,440	593	2335.1%
Net Assets	34,117	21,406	59.4%
Gross Margin	28.9%	20.4%	8.5%
Net Margin	3.5%	3.7%	-0.2%
Cost to Sales	71.1%	79.6%	-8.5%
Price(N)	1.1
EPS(N)	1.4
BVPS(N)	4.3
P/E(x)	0.6
P/BV(x)	0.2
ROAE (Annualised)	6.3%