Nigeria: Dangote Cement’s Nine-Month Profit Improves Slightly

The weak growth in after-tax profit came as finance costs more than doubled to N451.2 billion driven by dramatic increases in interest expenses and net foreign exchange loss.

Dangote Cement, Nigeria’s biggest company by market value, improved its net profit for the first nine months of the year by less than one per cent even though sales was up by as much as 69 per cent, according to its unaudited accounts issued Friday.

The weak growth in after-tax profit came as finance costs more than doubled…