Fan Milk Limited (Ghana) – Unaudited Financial Statement for Quarter ended March 31, 2022

By Published On: June 9th, 2022Categories: Corporate announcement, Earnings

Fan Milk Limited (FML.gh) Q12022 Interim Report

COMMENTS TO THE FINANCIAL STATEMENTS:

Fan Milk Plc’s continued the revenue growth trajectory from where it ended last year. The first quarter of 2022 achieved a revenue growth rate of 12% compared to prior year. The company is still pursuing its strategy of profitably growing the outdoor business and at the same time accelerating the indoor channel. This is paying off with the double digit growth recorded in quarter one. On the cost front, the rising commodity prices experienced last year has not abated; in fact it is worsening. This has caused a dip in the gross profit margin from 37.3% in quarter one 2021 to 30.6% in 2022.

Additionally, the depreciation of the local currency within the first quarter of the year has impacted negatively on costs.
The first quarter recorded a operating profit of GHS0.11 million and a net loss of GHS 0.986 million.


Fan Milk Limited (FML.gh)

Share price: 3.00 Cedis (0.00 | 0.00% – 12/08/22)

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