Dangote Cement has reported a 9.9 per cent decline in its after-tax profit for the third quarter of 2024 driven by naira weakness

NIGERIA — Dangote Cement, Africa’s largest cement producer, has reported a 9.9 per cent decline in its after-tax profit for the third quarter of 2024 driven by naira weakness. The cement maker’s after-tax profit fell to N89.2 billion in Q3 from N98.9 billion in the corresponding period of 2023. Analysts at FBNQuest disclosed that the reduced profitability was driven by a 435.4 per cent increase in net interest expenses, which more than offset double-digit growth in group sales... businessday.ng