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MARKET WATCH: Dangote Cement , Seplat post fall in 2014 profit

Dangote cement

Dangote Cement

Dangote Cement said on Thursday its 2014 pretax profit fell to 184.68 billion naira ($928 million), from 190.76 billion naira a year earlier.

Revenues rose to 391.63 billion naira during the period to December 31, compared with 386.17 billion naira the previous year, Nigeria’s biggest firm by market capitalisation said in a statement.

The cement firm, majority owned by Africa’s richest man Aliko Dangote, cut its dividend payment for 2014 to 6 naira per share, from the 7 naira it paid a year earlier.

Seplat says 2014 profit fell 54 pct as oil prices plunged

 Seplat said on Thursday its 2014 pretax profit dropped to $252 million, down 54 percent from $550 million a year ago, as the price of crude oil plunged.

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Seplat with dual listings in Lagos and London said revenues fell to $775 million during the period to December 31, against $880 million last year. The oil company proposed a total dividend of $0.15 per share for 2014, up from $0.10 in 2013.