GSK’s Nigerian unit said on Tuesday its first-half pretax profit fell to 424.8 million naira ($2.14 million), down 66.05 percent from a year ago.
Revenue also fell to 15.44 billion naira in the period to end-June from 15.66 billion naira last year, the unit of British drugmaker GlaxoSmithKline, said in a statement without giving any reason for the drop in earnings.
Similarly, Nigeria’s Honeywell Flourmills said on Tuesday its 2015 pretax profit fell to 1.43 billion naira ($7.19 million), down 66 percent from a year earlier.
Revenue declined by 10.9 percent to 49.06 billion naira, the pasta and confectionery maker said in a filing with the Nigerian Stock Exchange.