Dangote Cement Records N901 Billion Earnings, Declares N16 Dividend

Dangote Cement Plc Wednesday announced its audited results for the year ended December 31, 2018, showing a revenue of N901.21 billion.

Its Nigerian operations accounted for N618.30 billion, representing an increase of 11.9 percent over N552.36 billion in 2017.

Pan-African operations recorded revenues of N263.26 billion, an increase of 9.6 percent over N258.44 billion posted in the corresponding period in 2017.

Profit after tax stood at N390.32 billion, up from N204.25 billion while earnings per share rose from N11.65 to N22.83.

The company directors are proposing a dividend of N16 per share. A further analysis of the performance showed that Dangote Cement maintained its dominance of the Nigerian market, accounting for 65 percent of the total volume sold in the domestic cement sector in 2018.

The company also exported 800,000 metric tonnes (MT) of cement to West African countries, strengthening Nigeria’s position as a cement exporting country, creating jobs in the economy, and earning foreign exchange.

Post Author: Friday Ekeoba