Lagos - Dangote Flour Mills, the Nigerian unit of South Africa's Tiger Brands, said on Wednesday its nine months loss before tax widened to 8.34 billion naira ($52.48 million) against a loss of 3.83 billion in the same period a year ago.
Turnover at the flour and pasta maker also fell to 29.96 billion naira in the nine months to September 30, compared with 31.80 billion naira in the same period last year, it said in a filing with the Nigerian Stock Exchange.
“Group profitability was negatively affected by ongoing volume pressures, as well as significant input cost inflation, which could not be fully recovered through price increases,” the company said in a statement. - Reuters