Sept. 1 (Bloomberg) -- Dangote Sugar Refinery Plc, a Nigerian processor of the sweetener, fell to the lowest level in more than three weeks after reporting a 48 percent drop in first-half profit.
The stock lost 56 kobo, or 5 percent, to 10.74 naira, the weakest since Aug. 9, by the 2:30 p.m. close in Lagos, the commercial capital.
Net income retreated to 3 billion naira ($19 million) from 5.73 billion naira a year earlier, the company said in a statement published on the website of the Nigerian Stock Exchange today.
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