Honeywell Plc Hits 52-week High ahead of Q3 Earnings
Honeywell Flour Mills share price rose by about 32% due to strong bargain hunting in the equities market in anticipation of good earnings results. The company gained investors’ attention on the local bourse ahead of its third quarter of the financial year 2025 earnings release. The market expects Honeywell to continue a drive to grow earnings, reversing negative profit performance.
Trading data from the Nigerian Exchange showed that the food producer share price rose by 31.7% in a rally that spanned four out of five days to N10.02 from N7.61 at the beginning of the week.
Its positive price movement was attributed to investors renewed interest in anticipation of strong profit performance. Trading at 52-week high on the Nigerian Exchange, the market value of Honeywell Flour Mills’ 7.930 billion shares outstanding surged to N79.46 billion.
Its lowest price in 52 weeks was N3, suggesting a strong positive price movement, bolstered by Flour Mills of Nigeria’s significant share acquisition in the company. The company declared a close period from January 1 in respect of its third quarter of the financial year 2025 unaudited financial statement.
Earnings
The food company returned to profitability in the first half of its financial year 2025. It transited from a net loss of N4.376 billion to N2.523 billion profit after tax in the period. Honeywell profit was spurred by a steep rise in revenue, up by 126% year on year from N79.44 billion to N179.594 billion in the space of one year.
Likewise, its costs of sales skyrocketed by 140% year on year, faster than revenue growth. This had negative effects on gross margin at the time the company more than doubled down on selling and administration expenses, which settled at N5.463 billion from N2.536 billion.
Its operating profit settled at N13.192 billion, up by about 25% year on year from N10.571 billion in the comparable period. Honeywell saved the day with a significant reduction in its finance costs, slashed from N6.54 billion to N2.151 billion in the first half of 2025 earnings period.
At the end of its first half results in September 2024, Honeywell posted 33.82 kobo earnings per share, a significant improvement when compared with 55.18 loss per share. #Honeywell Plc Hits 52-week High ahead of Q3 Earnings CBN Opens FX Window for BDC to Stock up at NFEM Rate
