Flour Mills of Nigeria Q3 2018: FX market stability enhances performance despite slowdown in top line

Decline top line: down -13.65% q/q, -4. 14% y/y · Expansion in gross profit margin: up +367bps q/q; +322bps y/y · Slight uptick in opex to sales ratio: up +94bps q/q; +87bps y/y · Mixed PBT performance: down -17.3% q/q; up +303.5% Yesterday, Flour Mills of Nigeria (FMN) Plc published its unaudited Q3 2018 results ...