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Honeywell Flour to boost profitability with new products

As parts of plans to improve its market share and boost its bottom line in the years ahead, Honeywell Flour Mills (HFM) Plc has announced its decision to introduce new and attractive products in the Nigerian market and also expand the reach of its products through continuous training of users of its products.

The company which is set to list its shares on the Nigerian Stock Exchange (NSE), undertook a public offer, via a offer for sale and offer for subscription, where it sought to raise N18.65 billion for its expansion activities.

Speaking at the graduation and presentation of certificates to graduands of Regular Course 11 of the Honeywell Flour Mills Baking School, in Lagos, the Managing Director of the company, Mr. Babatunde Odunayo disclosed that in the next couple of months the company will roll out a number of new products that will cater for the health and nutritional needs of a large majority of the population.

He said, “Due to the high quality nature of our products and processes, we are committed to the introduction of new and attractive products on a continuous basis. To this end, we have introduced an innovative product, called Honeywell Whole Wheat Meal. This product is highly nutritious and when prepared, looks exactly like a popular local delicacies, but having more components and nutrition than that. We also plan to continue to produce ‘World Class’ quality flour brands to the delight of bakers. These products and others will soon be rolled out to the public and we hope to see improvement in our indices.“

On the graduation, he noted that the organisation is targeting the training of a vast majority of master bakers in the country, teaching them best practices, especially on the usage of high technological equipment and improvement in their skills and output.

He said, “We had previously completed 10 Regular Courses, One Executive Course and One External in-bakery training, during which we successfully trained 164 Master Bakers to become certified Bakers. We are pleased to report that all these certified bakers are doing well; they are growing their businesses and making more profits through the application of the skills they have acquired from the baking school.”

Odunayo disclosed that the graduands were trained on the use of modern baking equipment and how it would contribute significantly to improvement in their productivity and profitability.

The focus of this class was on accuracy of ingredients scaling, correct recipe formulation, recipe adjustment, other bread varieties, cakes and pastry products. These bakers are all now well equipped to bake fresher, richer, bigger and better bread varieties and many other baked products. The graduands also now know the productivity implications of using modern baking equipment and the impact this could have on their baking yield and profits. They can also now compete with any modern bakery in Nigeria.”


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