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Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (9 October 2026). Independent review has not yet been carried out, and these pages are not indexed.AI-assisted source check done; independent review pending; not indexed. About the review

Honeywell Flour Mills

HONYFLOUR · Nigerian Exchange · Consolidated statements

On this page
Company details
Legal name
Honeywell Flour Mills Plc
Listing
HONYFLOUR on the Nigerian Exchange, active · ISIN NGHONYFLOUR7 (observed 2026-10-08)
Sector
Not classified (our classification from the stated principal activity)
Financial year ends
31 March

Overview

Year ended 31 March 2026 · annual report, signed / final · source

  • Revenue

    NGN 361 billion

    360,849,158 NGN thousands · p30

    −3.4% vs 2025

  • Operating profit / (loss)

    NGN 16.6 billion

    16,576,852 NGN thousands · p30

    −8.3% vs 2025

  • Profit / (loss) for the year

    NGN 16.5 billion

    16,486,878 NGN thousands · p30

    +13.0% vs 2025

  • Total assets

    NGN 217 billion

    216,709,176 NGN thousands · p29

    +29.4% vs 2025

  • Total equity

    NGN 53.9 billion

    53,932,039 NGN thousands · p29

    +44.0% vs 2025

  • Cash from operations

    NGN 127 billion

    126,561,791 NGN thousands · p32

    −57.3% vs 2025

Large amounts are rounded for reading (NGN million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.

Financial statements

Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in NGN thousands unless the row says otherwise; brackets are negative.

† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table

Column sources

  • FY to 31 Mar 2026 — annual report, signed / final; reported for the year · source
  • FY to 31 Mar 2025 — annual report, signed / final; comparative in the FY to 31 Mar 2026 filing · source

Income statement

Income statement, NGN thousands. Columns: FY to 31 Mar 2026 — annual report (signed / final), as reported for the year; FY to 31 Mar 2025 — annual report (signed / final), comparative reported in the annual report for 2026.
Line (as printed) FY to 31 Mar 2026Annual reportreported for the yearFY to 31 Mar 2025Annual reportcomparative in FY to 31 Mar 2026 filing
Revenue from contracts with customers 360,849,158 373,509,245
Cost of sales (324,418,819) (341,263,860)
Gross profit 36,430,339 32,245,385
Other income 3,402,513 4,920,629
Selling and distribution expenses (11,383,414) (4,580,304)
Administrative expenses (9,971,318) (12,280,304)
Impairment loss on trade receivables (1,901,268) (2,220,648)
Operating profit 16,576,852 18,084,758
Finance income 9,224,056 8,543,454
Finance costs (3,904,706) (5,428,736)
Profit before minimum tax1 21,896,202 21,199,476
Minimum tax2 –3 –3
Profit before taxation 21,896,202 21,199,476
Income tax expense (5,409,324) (6,610,826)
Profit for the year 16,486,878 14,588,650
Other comprehensive income for the year (net of taxation) –4 –4
Total comprehensive income for the year 16,486,878 14,588,650
  1. Printed “-”, read as nil: subtotal_arithmetic: is.profit_before_tax.
  2. Printed “-”, read as nil: subtotal_arithmetic: is.total_comprehensive_income.
Notes and alternative reported figures (2)
  1. “Profit before minimum tax” is an issuer-specific line, not mapped to a shared definition: Operating profit plus finance income less finance costs, before minimum tax.
  2. “Minimum tax” is an issuer-specific line, not mapped to a shared definition: Note 32.2 (nil both years).

Balance sheet

Balance sheet, NGN thousands. Columns: FY to 31 Mar 2026 — annual report (signed / final), as reported for the year; FY to 31 Mar 2025 — annual report (signed / final), comparative reported in the annual report for 2026.
Line (as printed) FY to 31 Mar 2026Annual reportreported for the yearFY to 31 Mar 2025Annual reportcomparative in FY to 31 Mar 2026 filing
Property, plant and equipment 99,267,498 70,803,963
Intangible assets 422,914 38,457
Right of use asset 666,987 692,644
Deferred tax assets –1 –1
Long term loans receivables2 –1 3,151,345
Investment in subsidiary3 –1 –1
Total non-current assets 100,357,399 74,686,409
Inventories 31,456,988 48,124,593
Trade and other receivables 28,791,747 27,561,580
Short term loans receivables4 40,555,827 –5
Prepayments6 5,737,137 11,809,104
Cash and cash equivalents 9,810,078 5,264,550
Total current assets 116,351,777 92,759,827
Total assets 216,709,176 167,446,2367
Borrowings 27,022,821 20,284,280
Deferred income8 716,913 1,318,933
Lease liability 223,023 769,151
Employee's long service award9 232,634 149,048
Deferred tax liabilities 2,870,736 7,595,379
Total non current liability 31,066,127 30,116,792
Borrowings 5,459,198 6,681,123
Deferred income10 673,632 887,739
Lease liability 763,134 101,724
Trade and other payables 97,985,177 79,006,446
Contract liability 18,168,143 8,791,751
Current tax payable 8,661,726 4,415,499
Total current liability 131,711,010 99,884,282
Total liabilities 162,777,137 130,001,074
Share capital 3,965,099 3,965,099
Share premium 6,462,041 6,462,041
Revaluation reserves 19,388,109 19,388,109
Retained earnings 24,116,790 7,629,912
Total equity 53,932,039 37,445,161
Total equity and liabilities 216,709,176 167,446,2367
  1. Printed “-”, read as nil: subtotal_arithmetic: bs.non_current_assets.
  2. Printed “-”, read as nil: subtotal_arithmetic: bs.current_assets.
Notes and alternative reported figures (8)
  1. “Long term loans receivables” is an issuer-specific line, not mapped to a shared definition: Note 19, non-current loans receivable (related parties).
  2. “Investment in subsidiary” is an issuer-specific line, not mapped to a shared definition: Note 20 (nil in the group columns).
  3. “Short term loans receivables” is an issuer-specific line, not mapped to a shared definition: Note 19, current loans receivable (related parties).
  4. “Prepayments” is an issuer-specific line, not mapped to a shared definition: Note 23, current.
  5. Annual report dated 2025-05-30 prints 167,446,235 (thousands, p31) for this line and year.
  6. “Deferred income” is an issuer-specific line, not mapped to a shared definition: Note 26: deferred government grant income, non-current.
  7. “Employee's long service award” is an issuer-specific line, not mapped to a shared definition: Note 31: long service award obligation, non-current.
  8. “Deferred income” is an issuer-specific line, not mapped to a shared definition: Note 26: deferred government grant income, current.

Cash flow

Cash flow, NGN thousands. Columns: FY to 31 Mar 2026 — annual report (signed / final), as reported for the year; FY to 31 Mar 2025 — annual report (signed / final), comparative reported in the annual report for 2026.
Line (as printed) FY to 31 Mar 2026Annual reportreported for the yearFY to 31 Mar 2025Annual reportcomparative in FY to 31 Mar 2026 filing
Cash generated from operations 132,307,515 296,958,0281
Tax paid (5,586,731) (479,091)
Long service award paid2 (158,993) (41,196)
Net cash flow from operating activities 126,561,791 296,437,742
Purchase of property, plant and equipment (33,574,046) (2,515,648)
Proceed from sale of property, plant and equipment –3 3,546,252
Purchase of intangible assets (406,371) –3
Loan granted to related parties4 (152,972,006) (297,439,684)
Interest income from bank deposits 102,521 –3
Repayment of loans by related parties5 64,035,022 11,618,000
Investment in subsidiaries6 –3 –3
Net cash flow used in investing activities (122,814,880) (284,791,080)
Lease principal payment –7 (71,207)
Lease interest payment –7 (30,517)
Proceeds from borrowings 10,129,167 –7
Repayment of principal (6,840,184) (8,487,164)
Repayment of interest (1,561,791) (2,867,313)
Net cash flow from / (used in) financing activities 1,727,192 (11,456,202)
Total cash movement for the year 5,474,103 190,460
Cash at the beginning of the year 5,264,550 5,070,052
Net exchange gain on cash and cash equivalent (928,575) 4,038
Total cash at end of the year 9,810,078 5,264,550
  1. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
  2. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_financing.
Notes and alternative reported figures (5)
  1. Annual report dated 2025-05-30 prints 296,916,833 (thousands, p34) for this line and year.
  2. “Long service award paid” is an issuer-specific line, not mapped to a shared definition: Operating activities, note 31.
  3. “Loan granted to related parties” is an issuer-specific line, not mapped to a shared definition: Investing activities, note 19.1.
  4. “Repayment of loans by related parties” is an issuer-specific line, not mapped to a shared definition: Investing activities, note 19.1.
  5. “Investment in subsidiaries” is an issuer-specific line, not mapped to a shared definition: Investing activities, note 20 (nil in the group columns).

Per share and shares

Per share and shares. Columns: FY to 31 Mar 2026 — annual report (signed / final), as reported for the year; FY to 31 Mar 2025 — annual report (signed / final), comparative reported in the annual report for 2026.
Line (as printed) FY to 31 Mar 2026Annual reportreported for the yearFY to 31 Mar 2025Annual reportcomparative in FY to 31 Mar 2026 filing
Earnings / (loss) per share (per share)3 2.07901 1.83962
  1. Printed as 207.90 kobo; value converted to NGN at 100 kobo = 1 NGN.
  2. Printed as 183.96 kobo; value converted to NGN at 100 kobo = 1 NGN.
Notes and alternative reported figures (1)
  1. Earnings / (loss) per share: printed as “Basic earnings per share (kobo)”.

Segments

Segment data not yet collected for this company in the pilot.

Dividends

Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.

No dividend statement or amount collected.

Sources

Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.

  • Honeywell Flour Mills Plc Annual Report and Consolidated and Separate Financial Statements for the year ended 31 March 2026

    Year ended 31 March 2026 · Annual report · signed / final

    Audit: Ernst & Young (Lagos), unmodified opinion · signed

    Auditor's sign-off: Williams I. Erimona, FCA (FRC/2013/PRO/ICAN/004/00000002190), for Ernst & Young

    Final status: Independent auditor's report to the members of Honeywell Flour Mills Plc (opinion PDF p24) signed by Williams I. Erimona, FCA (FRC/2013/PRO/ICAN/004/00000002190) for Ernst & Young, Lagos, with the ICAN seal, dated 30 May, 2026 (PDF p28, page image). Statements approved by the board on 29 May, 2026 and signed by the chairman, the managing director and the chief financial officer (PDF p29, page image).

    Document date
    30 May 2026
    Auditor's report
    30 May 2026
    Board approval
    29 May 2026
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY to 31 Mar 2026, FY to 31 Mar 2025
    Basis
    consolidated statements · NGN thousands (printed “N'000”)
    • Interest income from bank deposits (102,521) is presented within investing activities and interest on borrowings ('Repayment of interest') within financing activities (p32).
    • Profit before minimum tax is printed, then minimum tax (nil both years), then profit before taxation (p30).
    • In 2025 the group and company columns are largely identical; the group prints its own figures for 2026 (new subsidiary, note 20).
    Technical details
    File
    94 pages, with a text layer
    SHA-256
    1819a72c13bbdd18550a4e73e65a149fef023dc7841046b78c39b499a57a0f3d
    Entity as printed
    Honeywell Flour Mills Plc (the Company) and its subsidiaries (together the Group)
    Exchange copy
    retrieved 2026-10-08T17:51:01Z

  • Honeywell Flour Mills Plc Annual Reports and Consolidated and Separate Financial Statements for the year ended 31 March 2025

    Year ended 31 March 2025 · Annual report · signed / final

    Audit: Ernst & Young (Lagos), unmodified opinion · signed

    Auditor's sign-off: Williams I. Erimona, FCA (FRC/2013/PRO/ICAN/004/00000002190), for Ernst & Young

    Final status: Independent auditor's report to the members of Honeywell Flour Mills Plc (scanned, PDF pp25-30; opinion p25) signed by hand ('Signed:') by Williams I. Erimona, FCA (FRC/2013/PRO/ICAN/004/00000002190) for Ernst & Young, Lagos, Nigeria, 30 May, 2025, with the ICAN stamp (PDF p30, page image). The statements were approved by the board on 29 May 2025 and signed by the chairman, a director and the finance director (PDF p31, page image).

    Document date
    30 May 2025
    Auditor's report
    30 May 2025
    Board approval
    29 May 2025
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    not a column source (supplementary or comparison only)
    Basis
    consolidated statements · NGN thousands (printed “N'000”)
    • Group 2025 only: 'The subsidiaries were incorporated during the year, and wholly owned by the Company. Accordingly, there are no camparatives presented for the Group numbers' (pp31-34). The comparative column printed (2024) is the Company's.
    • Interest on borrowings ('Repayment of interest') and lease interest are presented within financing activities (p34). 'Loan granted to related party' (297,439,684) is presented within investing activities (p34).
    • Profit before minimum tax is printed, then minimum tax (Group 2025 nil), then profit before taxation (p32). On p32 the text layer places the labels of the OCI and total comprehensive income rows at the foot of the page; the rows are read after 'Profit/(Loss) for the year' in printed order (page image).
    • The independent auditor's report (pp25-30) and the ICFR attestation (pp23-24) are scanned images with no text layer; the auditor's opinion is quoted from the page image.
    Technical details
    File
    118 pages, with a text layer
    SHA-256
    c0bb66102ebf672ca5e2303dc21d108511ea0965bd8ed404589b19a8351a8965
    Entity as printed
    Honeywell Flour Mills Plc (the Company) and its subsidiaries (together the Group)
    Exchange copy
    retrieved 2026-10-08T17:51:42Z

Data notes

No figure-level notes beyond those in the tables.

Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (9 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.

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Figures shown on this page (CSV) — the same selected figures at their exact printed values, each with its source document, SHA-256, page, selection rule and reading. Independent review of these figures is pending.

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