2011 full year audited report released
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In spite of the Challenging operating environment in Nigeria in 2011, Fan Milk Plc, recorded admirable results. This was contained in the Chaiman's Speech at the just concluded Annual General Meeting which held on 7th May, 2012 at Lafia Hotel in Ibadan.

Highlights of the report include:

  • Revenue grew by 13 percent over last year.
  • Reduction in profit before tax over 2010 due to increase in production expenses, raw material prices and the increase in interest rates.
  • Introduction of the first computerised and automated packaging line.
  • Increased production capacity, restructuring of the sales organisation and implementation of a new distribution strategy in the second half of 2011 contributed to increase in turnover.
  • Continued improvement in the franchise development programme.
  • Introduction of new product variant - Fantastic Strawberry.

Please download the full report for details and more.

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