Dangote Cement has reported a revenue of N292 billion in the second quarter ended 30 June 2016 indicating an increase of 20% over the N242 billion figure posted in the corresponding period in 2015.
According to the reports filed with the Nigerian Stock Exchange (NSE), the company’s profit for the period reached N106.3 billion, representing a small drop of 3% from N123.1 billion declared a year earlier.
Dangote Cement has more than doubled production capacity since 2013 and said in April it may increase cement capacity by a further 77% by the end of 2019.
Cement sales volumes in the period increased by 60%, bolstered by record volumes in its home market, where the company announced a price cut last September, as well as new plants elsewhere on the continent.
New research by GlobalData’s MEED has shown that the commercial value of construction contracts issued in the Gulf Cooperation Council (GCC) fell by more than 50% in the first eight months of 2020 compared to the same period in 2019.