For the first-quarter ended 31 March, 2016, Nigeria’s Dangote Cement recorded a 22.3% decline in net profit to NGN 54.4 billion (€243.17 million/US$273.16 million) from NGN 70.2 billion in the year-ago quarter.
For the first-quarter ended 31 March, 2016, Nigeria’s Dangote Cement recorded a 22.3% decline in net profit to NGN 54.4 billion (€243.17 million/US$273.16 million) from NGN 70.2 billion in the year-ago quarter.
The decline was attributed to increased cost of sales, which stood at NGN 62.5 billion in the quarter in review from NGN 39.9 billion in the year-ago quarter.
Company gross earnings for the quarter in review stood at NGN 140.5 billion, up 22.5% from NGN 114.7 billion in the year-ago quarter.
