Dangote Cement’s revenue rises in 1Q13
Nigeria’s Dangote Cement saw pre-tax profits increase by 80.6% y/y to N53.7 billion in 1Q13 according to its unaudited results for the period. Consolidated group revenue was up 39.5% y/y to N95.4 billion and gross profits grew by 64.7% y/y to N66 billion. Meanwhile, EBIT came in at N55.4 billion, 77.8% higher than in 1Q12, while earnings per share increased by 79.5% y/y.
Commenting on the results, Group Managing Director/Chief Executive Devakaumar Edwin stated: “Our gas supply has been better this year and that has driven margins upwards from the first quarter of 2012, when our new capacity at Ibese and Obajana was just coming onstream.”
“We are increasing our focus on delivering directly to our customers and have made it easier for them to order and pay for our cement. This has allowed us to improve our position in the market and we remain confident of a good year,” he added.
The cement manufacturer has decided to automate some of its processes in order to avoid bottlenecks during distribution.
Adapted from press release by Louise Fordham.
Read the article online at: https://www.worldcement.com/africa-middle-east/08052013/dangote_cement_1q13_results_971/
You might also like
The World Cement Podcast - What's next for US Cement?
In this episode of the World Cement Podcast, we are joined by Mike Ireland, President and CEO of the ACA or American Cement Association. Listen in as Mike and David dive into a range of topics, including the ACA’s recent rebranding efforts, decarbonisation, policy and legislation, and the impact of AI on cement demand.
Tune in to the World Cement Podcast on your favourite podcast app today.