- Shareholders encouraged continued review of strategies to ensure long-term sustainability
- The success of Honeywell’s semolina was highlighted by shareholders
- Three members of the Board of Directors were re-elected
- Shareholders pointed out the need for HFMP to merge with Flour Mills of Nigeria Plc (FMN)
- Honeywell Flour Mills Plc remains committed to delivering superior products and services
Honeywell Flour Mills Plc (HFMP), one of Nigeria’s leading flour milling companies, successfully held its 14th Annual General Meeting (AGM) on Monday, December 11, 2023, at the Civic Center, Victoria Island, Lagos.
Shareholders and representatives of regulatory bodies were present at the meeting.
Presenting the audited financial statements for the year ended 31stMarch, 2023, the company continues to deploy viable strategic business decisions to drive business sustainability amid challenging economic conditions.
Shareholders commended the company for its commitment thus far and encouraged continued review of strategies to ensure long-term sustainability. They expressed confidence in HFMP’s ability to develop internal agility that would sustain the business amid unprecedented changes within the business environment. Shareholders also pointed out the need for HFMP to merge with Flour Mills of Nigeria Plc (FMN) while they further acknowledged the success of Honeywell’s semolina, and expressed hope that this market success would eventually translate into positive dividend returns for the future.
Addressing the shareholders, Mr. Boye Olusanya, Chairman, HFMP Board of Directors, assured shareholders of the company’s drive to deliver value to both customers and to them, the invaluable shareholders.
He said, “The Board is clearly aware of the responsibility entrusted to us, and we are dedicated to implementing strategies that not only weather the current economic conditions but position HFMP for sustained success in the long term. As we move forward, we remain resolute in our commitment to transparency, innovation, and delivering value to our shareholders.”
The AGM concluded with the successful re-election of members of the board of directors who were retiring by rotation. They were, Mr. Olanrewaju Jaiyeola, Mr. Anders Kristiansson, and Mr. Sadiq Usman.
Mr. Olusanya also expressed the Board’s gratitude for the continued support and confidence of the shareholders. He emphasized the company’s commitment to addressing their concerns and working towards sustainable growth.
HFMP remains a leading player in the Nigerian flour milling industry, striving to deliver superior products and services while ensuring long-term success for all shareholders.
