Cement Co of Northern Nigeria reports 48% drop in quarterly profit

Cement Company of Northern Nigeria Plc has reported a 48 per cent drop in first-quarter profit.  Net income for the three months through March declined to NGN268m (US$1.7m) from NGN511.4m a year earlier, the Sokoto, northern Nigeria-based company said in a statement yesterday. Revenue was relatively flat at NGN3.1bn.