Optimization Process Delays Flour Mills Audited Financial Statement

Flour Mills Of Nigeria Plc Logo

Flour Mills of Nigeria Plc, (FMN) announced on Wednesday July 3, 2019, a delay of the release of its full year audited financial statements for the year ended March 31, 2019. The company in a statement signed by Company Secretary/Director of Legal, Umolu Joseph, explained that the marginal delay is necessitated by the complexities surrounding the recently concluded optimization process of FMN Agro-allied Holding within the group.

Flour Mill noted that the need to ensure proper integration of the new structure within the business to give optimal stakeholder value and the proper alignment with all legal and procedural requirements has taken longer than envisaged and beyond the submission timeline.

Assuring that “We are positive that the Audited Financial Statements will be filed within two weeks of this notice and be in optimal alignment to all the necessary financial standards and best practice”.

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