Flour Mills of Nigeria Q1 pretax profit falls 8.8 pct
ABUJA Aug 19 (Reuters) - Flour Mills of Nigeria said on Monday its pretax profit for the first quarter fell 8.8 percent the same period last year to 4.69 billion naira ($29 million).
Gross earnings rose to 100.97 billion naira in the three months to June 30 from 70.7 billion naira a year earlier, the company said in a statement.
Selling and distribution costs rose to 2.58 billion naira from 1.85 billion a year ago, eating into profits. ($1 = 161.6 Nigerian naira) (Reporting by Oludare Mayowa; writing by Joe Brock; editing by Tom Pfeiffer)
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