Ashaka Cement pretax profit down 58.87%, Nigeria

Ashaka Cement pretax profit fell to NGN2.16bn (US$13.6m) in the first nine months of 2013, down 58.87 per cent from NGN5.27bn a year ago. Turnover for the Nigeria-based producer rose to NGN16.83bn during the nine months to 30 September, from NGN16.46bn in the same period of last year.

Ashaka Cement, in which Lafarge holds a 59 per cent interest, having increased this from 50 per cent in 2012, is located in the northeastern Nigerian state of Gombe.