Nigerian fuel retailer Conoil said on Monday its 9-month pretax profit fell 32.1 percent to 2.09 billion Nigerian naira ($12.63 million) from 3.08 billion naira a year earlier.
Turnover fell to 104.22 billion naira in the nine months to September from 121.80 billion a year ago, the company, owned by Nigeria’s billionaire, Mike Adenuga, said in a filing with the Nigerian Stock Exchange.
In contrast, Nigeria’s Dangote Cement said its pretax profit for the nine months to September rose 1.5 percent to 154.05 billion naira ($930.70 million), compared with 151.72 billion naira in the same period last year.
Revenue for the nine month period was 310.21 billion naira compared with 288.98 billion in the same period last year, the company majority owned by billionaire Aliko Dangote said in a filing with the Nigerian Stock Exchange.