Nigeria's Dangote Flour swings to H1 loss of 748 bln naira
LAGOS Oct 12 (Reuters) - Nigeria's Dangote Flour said on Friday it swung to a pre-tax loss of 748.15 million naira ($4.76 million) in the first half of the year, compared with pre-tax profit of 244.51 million naira in the same period last year.
Dangote Flour's gross earnings however rose to 29.58 billion naira, compared with 34.14 billion in same period last year. It did not give a reason for the fall in earnings.
Nigerian billionaire Aliko Dangote last week sold 63 percent of Dangote Flour to South African consumer goods firm Tiger Brands in a deal worth $188 million. ($1 = 157.24 naira) (Reporting by Oludare Mayowa; Editing by Tim Cocks)
- Insight: How U.S. spying cost Boeing multibillion-dollar jet contract
- Exclusive: Secret contract tied NSA and security industry pioneer |
- With Fed out of the way, what's next on Wall Street?
- Insight: For Chinese farmers, a rare welcome in Russia's Far East
- Millions of Target shoppers face new debit card limits |