Nigeria's Dangote Cement expects 38 pct

January 09 [Wed], 2013, 4:32
LAGOS (Reuters) - Nigeria's biggest listed company, Dangote Cement, expects pretax profit to rise 38.9 percent year-on-year to 42.09 billion naira in the first three months of next year, it said in a filing with the Nigerian Stock Exchange.

Dangote Cement, Nigeria's biggest cement producer, said it expected turnover of around 81.6 billion naira in the first quarter, compared with 64.1 billion naira it achieved in the same period in 2012.

The company which is majority owned by billionaire tycoon Aliko Dangote earlier this month shut down a fifth of its production capacity because of a glut in the market caused by imported cement from Asia.

It is yet to release its 2012 full year results.