Dangote Cement Records 20% Profit Drop for 2014

Nigeria: Dangote Cement has reported a 20% drop in it's profit after tax for the year 2014 due a gas shortage to fire its plant and low demand after prolonged wet weather, Reuters reports.

The firm's 2014 pretax profit fell 3.2% to 184.68 billion naira ($928 million), from 190.76 billion, driving profit after tax 20% down t0 N159.5billion (2013: N201.1billion)

Earnings per share also fell 20% to N9.42 compared to N11.85 reported in 2013. Profit attributable to shareholders of the company was N161.9billion.