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Dangote Cement reports positive 1Q18

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World Cement,

Dangote Cement has reported group cement sales of 6.195 million t in 1Q18, a 2.82% increase on the previous year. Cement production was 6.042 million t.

Revenues from cement sales jumped 16.3% to NGN242.12 billion. Revenues from the company’s Nigerian business were NGN173.91 million, 71.7% of total revenues. Revenues from its Pan-Africa business were NGN68.56 billion, 28.3% of the total.

The company’s Nigerian business played an even more dominant role in the company’s earnings. Total EBITDA for the three months jumped 22.2% to NGN125.92 billion with the Nigerian business contributing 89.13% of the total.

Profit from operating activities totaled NGN103.79 billion, a steep rise on 1Q17 when the company reported profits of NG83.25 billion.

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Dangote news Cement news 2018