Nigeria: Cement giant’s profit down

NIGERIA’S Dangote Cement said yesterday that its pretax profit for last year fell to 184.68 billion naira (R10.9bn), from 190.76bn naira a year earlier. Revenues rose to 391.63bn naira during the period to December 31, compared with 386.17bn naira the previous year, Nigeria’s biggest firm by market capitalisation said. The cement firm, majority owned by Africa’s richest man Aliko Dangote, cut its dividend payment for last year to 6 naira a share, from the 7 naira it paid a year earlier. – Reuters