Dangote Cement is predicting 2Q13 revenue of N98.5 billion (US$623.3 million) – a 26% y/y increase – on the back of strong demand. First quarter net income reached N53.7 billion.
“The year has begun well for Dangote Cement and our 38% increase in volumes far outpaced the Nigerian market’s strong growth of 16%,” said CEO Devakumar Edwin. “Our gas supply has been better this year, and that has driven margins upwards from the first quarter of 2012.”
Dangote Cement currently has production capacity of ~19 million t within Nigeria, and plans to raise capacity to 29 million t by 2015. A new plant in Senegal, due to start production in this quarter, has been put on hold while a dispute over the land title is settled.
Meanwhile, according to reports, Dangote Cement plans to add to its capacity in Ghana. The company currently has a plant in Tema, and plans to add another here and more elsewhere in the country.
Dangote Cement plans to increase its total capacity worldwide to 55 million t by 2015.
Edited from various sources by Katherine Guenioui
Read the article online at: https://www.worldcement.com/africa-middle-east/13092013/dangote_cement_predicts_strong_2q13_176/
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