Dangote Cement profits up 52.8%

Dangote Cement plans to start operations in Sierra Leone, Cameroon and Zambia in 2014, says Chief Executive Officer Devakumar Edwin

Dangote has a production capacity of 20.3 million tonnes/year in Nigeria and intends to add 9 million tonnes/year to production in thatcountry by the end of 2014.

Edwin says that Dangote is reviewing its operations in Kenya in light of the discovery of limestone deposits in the country, and plans to increase the capacity of its proposed plant in Kenya from 1.5 million ton

Dangote Cement, Africa’s largest cement producer, has announced its unaudited results for the six months ended 30th June 2017, posting a 12.6% increase in sales volume across Africa. The sales volume rise is said by Dangote Cement to indicate the sector giant’s growing gains in the Pan-African market. Revenues from operations in Nigeria increased by 34.5% to ₦291.4 billion, while Pan-Africa revenue increased by 63.7% to ₦124.4B from ₦76.0B mainly as a result of increased volumes and foreign exchange gains

For the first-quarter ended 31 March, 2016, Nigeria’s Dangote Cement recorded a 22.3% decline in net profit to NGN 54.4 billion (€243.17 million/US$273.16 million) from NGN 70.2 billion in the year-ago quarter.

Nigeria-based Dangote Cement saw its turnover expand by 15.94% year-on-year to NGN 242.22billion (€1.11 billion/US$1.22 billion) in the first half of 2015.

During the same six-month period, the cement maker also reported a 21.65% surge in after-tax profit to register a NGN 121.81 billion value.

The company attributes its healthy half-year results to its recently implemented expansion plan which saw Dangote Cement commission plants in South Africa and Senegal.