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Honeywell Flour Mills beneficial properties 32% MTD in early January following model relaunch in December 

Shares of Honeywell Flour Mills Plc have climbed 32% month-to-date, making it the top-advancing shopper items inventory on the Nigerian Alternate to date in early January.

The surge comes after Flour Mills of Nigeria (FMN), which holds a 71.69% stake within the firm, relaunched the Honeywell model in mid-December 2024.

In accordance with Mr. Devlin Hainsworth, Managing Director (Meals) at FMN, the relaunch goals to redefine and strengthen the model’s presence out there.

Following the relaunch, Honeywell Flour Mills Plc has recorded beneficial properties in 5 of its final six buying and selling classes in early January, reflecting sustained investor curiosity.

Market development 

In 2024, Honeywell Flour Mills recorded an 89.8% year-to-date acquire on the Nigerian Alternate, supported by renewed bullish exercise within the latter half of the 12 months.

  • The inventory opened at N3.32 in January, rising to N3.95 with a buying and selling quantity of 127 million shares.
  • It declined to N3.00 by Could earlier than recovering in June, reaching N4 in August and N4.70 by September.
  • Within the fourth quarter, the inventory noticed elevated exercise, with a notable rise in December that contributed over 30% to its annual efficiency, bringing the year-to-date acquire to 89.75%.

Potential drivers of bullish motion 

Honeywell Flour Mills noticed an uptick in its inventory value probably due to a couple developments:

  • The corporate reported a 126% year-over-year improve in income, leaping from N79.4 billion to N179.5 billion for the six months ending September 30, 2024.
  • This development was accompanied by a 186% rise in pre-tax revenue, reaching N3.4 billion, in comparison with a lack of N3.9 billion the earlier 12 months.

After the earnings report launch on October 30, 2024, Honeywell’s shares closed at N4.73 in November.

  • In mid-December, Flour Mills of Nigeria (FMN), which holds a 71.69% stake in Honeywell, relaunched the Honeywell model.
  • This initiative sought to boost market presence and product high quality, introducing new packaging impressed by Nigerian tradition.

Following the relaunch, Honeywell’s shares started to rise on December 16, breaking the N6 barrier and shutting the month at N6.30.

Feedback on the Honeywell relaunch 

In accordance with Mr. Devlin Hainsworth, Managing Director (Meals) at Flour Mills of Nigeria (FMN), the corporate is targeted on enhancing the standard of its merchandise. “The Honeywell model affords improved high quality noodles and pasta, whereas the Honeywell semo or wheat supplies enhanced high quality and adjusted pack sizes,” he stated.

  • He added that the brand new packaging displays Nigeria’s tradition and the model’s historical past, with upgraded merchandise providing higher dietary worth and style.
  • Nevertheless, on the thirtieth of December 2024, the Nigerian Alternate acknowledged that your entire issued share capital of Flour Mills of Nigeria has been delisted from the Day by day Official Listing.
  • This stems from a September 24, 2024, announcement by Flour Mills of Nigeria Plc, disclosing that its majority shareholder, Excelsior Delivery Firm Restricted, had proposed to accumulate all minority-held shares, paving the best way for the corporate’s exit from the Nigerian Alternate.

Shares of Flour Mills final traded on December 13, 2024, closing at N81.80 with a month-to-month market quantity of 11 million shares and a year-to-date efficiency of 147.50%.


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