Skip to main content

Dangote Cement revenue hits N442 billion

Published by
World Cement,


According to multiple sources, Dangote Cement Plc has declared an increased revenue of N442.09 billion in the last nine months. This rise was indicated by its financial report released at the Nigerian Stock Exchange (NSE).

Dangote Cement revenue hits N442 billion

The revenue in the nine months ended September 30 was 20.97% higher than the figure recorded during the corresponding period last year, despite the harsh operating environment, a development attributed to management’s strategy to leverage on its pan-African status.

The report indicated that the cement manufacturer increased revenue by N76.642 billion from N365.450 billion it made during the corresponding period last year.

The crises of foreign exchange gulped a huge amount of its revenue, as it spent N231.684 billion on cost of sales during the period of nine months in focus as against N138.694 billion spent on the same purpose in the same period last year.

The huge money spent on cost of sales affected its profit after tax from N157.993 billion it made in nine months last year to end the current period with N133.521 billion.

Read the article online at: https://www.worldcement.com/africa-middle-east/10112016/dangote-cement-revenue-hits-n442-billion/

You might also like

 WCT2020

WCT2020

WCT2020 provides a unique online forum for cement industry professionals to hear first-hand from experts through a series of exclusive presentations from cement producers and industry experts.

Find out more and register for the series »

 

 Spotlight

World Cement Spotlight with Rockwell Automation

World Cement Editor, David Bizley, sat down with Michael Tay, Advanced Analytics Product Manager at Rockwell Automation to discuss his recent article in World Cement.

Entitled ‘Smooth Sailing’, this article explains how machine learning can help save energy, reduce downtime and predict equipment failures, thus enabling the smooth running of cement plant operations.

Watch the interview now »

 
 
 

Embed article link: (copy the HTML code below):


 

World Cement is not responsible for the content of external internet sites.