Flour Mills Nigeria aims at doubling business in 5 years to N1.2trn revenue

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Flour Mills of Nigeria Plc, foremost market operator in food and agro-allied products has outlined an ambitious business plan for the next five years. The 59 year old company is targeting doubling its business within this period from N600 billion revenue to over N1.2 trillion in 2024.

The strategy of the business expansion of the  company which has over the years diversified into fast moving consumer goods is not only organic growth, but acquisitions and partnerships.

Paul Gbededo, Group Managing Director of the company which controls about 42 percent of the flour business told BusinessDay recently at the celebration of the company’s trade partners for their contributions to the FMN business growth that the business expansion is to ensure that the vision of feeding the nation and Africa is realised.

“Value and job creation is our focus and that will be in the downstream. It is not just good to acquire assets in the upstream but we need to focus on the downstream and create more value”. To ensure continuous business growth, it rewarded its business partners for their patronage and performance. The event which was attended by over 500 guests, culminated in the handing over of 17 trucks to the top performing dealers.  Top 5 dealers were celebrated with the special award of 30-ton trucks and trailers which further expands their business model with primary distribution capability.

This year’s conference theme , “Breakthrough partnering for growth,” looked back at the rich and unique heritage the company shares with its partners and reinforced the continued commitment towards mutual profitability and growth.

“Our success story as the leading consumer business in Nigeria, will not be complete without our esteemed dealers and partners who form an integral part of how we are achieving our purpose of Read More...

Flour Mills strengthens cassava processing segment

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Flour Mills of Nigeria is strengthening its cassava processing business to improve efficiency and serve the consumers better.

Part of the arrangement is that its subsidiary Thai Farm International Limited, a leading producer of High-Quality Cassava Flour (HQCF) and major stakeholder in the industrial production of garri – Golden Penny Garri, is changing its corporate name to Premium Cassava Products Limited (PCPL), effective April 1, 2019.

The change, which is part of a larger group-wide restructuring programme by the management of FMN for its businesses in agriculture sector, is intended to improve not just the efficiency of its various businesses in that sector but greatly increases the synergy within the group while creating more value accretion opportunities.

Speaking on the change of identity, Nassib Raffoul, chief operating officer of the agro-allied division, said the change was borne from the overall mandate to adopt a common identity across the agro-allied businesses under the division.

“Other than the change of identity, our existing policies on products, customer relations, quality commitment, management and directions shall remain as it is. Our customers, consumers and other stakeholders will continue to get the best of services that they have become accustomed to while partnering Thai Farm,” Raffoul said.

“With the new brand identity, Premium Cassava Products Limited is now truly revitalised to deliver on its core focus of producing quality products to its customers. Admittedly, the ‘Farm’ in the old name was a little confusing to some of our first-time customers. However, it is important to now clarify that the company is primarily a processor and famed producers of High-Quality Cassava Flour and the popular Golden Penny Garri,” he explained.

The new brand identity includes a top-to-bottom redesign of the company’s logo, graphics, communications and correspondence. PCPL’s new brand assets include a … Read More...