Ashaka Cement first-half pretax profit falls 54.4%, Nigeria

Ashaka Cement reported a 54.4 per cent decline in first-half 2013 pretax profit to NGN1.65bn (US$10.3m) from NGN3.55bn a year ago.

Turnover also fell to NGN11.81bn during the six months to June 30, compared to NGN12.26bn in the same period of last year.

Askaka Cement, in which Lafarge holds a 59 per cent interest having increased this from 50 per cent last year. Is located in the northeastern state of Gombe. The firm owns a plant with a capacity of 0.85Mta and has initiated a programme to increase this to 1.2Mta by kiln improvements.