- John Coumantaros stake in Flour Mills of Nigeria tops 100 million, cementing his position among top investors on the Nigerian Exchange.
- Flour Mills' shares have climbed 4.84 since Nov. 1, driving its market cap above 150 million and boosting Coumantaros' holdings by 4.65 million.
- Flour Mills' stock has delivered 96.67 in local returns this year, while currency devaluation limited gains to 2.9 in dollar terms.
John Coumantaros, chairman of Flour Mills of Nigeria Plc, has solidified his standing as one of the leading business figures in Africas food and consumer goods sector, with his stake in the company now valued at over 100 million.
The Lagos-based Greek businessman holds a 63-percent stake in Flour Mills. Since Nov. 1, the market value of his shares in the agro-allied conglomerate has increased by N7.79 billion 4.65 million to 100.77 million.
This follows a 31.57-million increase in the value of his stake earlier this year, between Sept. 5 and Oct. 9, when his holdings soared from 68.11 million to 99.68 million.
Flour Mills posts strong half-year resultsFlour Mills of Nigeria, founded in 1960 by George Coumantaros, has grown into one of the countrys leading foods and agro-allied firms. Under his son Johns leadership, it maintains a strong market position.
For the first half of fiscal 2025 , Flour Mills posted a 76 percent revenue jump to N1.7 trillion 1.01 billion, while gross profit rose 53 percent to N161.1 billion 96.4 million, defying tough economic conditions in Nigeria.
