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Dangote Cement assures of outstanding financial performance, strong returns

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IMAGE: Dangote Cement plc »


Dangote Cement plc yesterday reassured investors and entire members of Nigeria capital market community of its potentials to delivering stupendous financial performance and strong returns.

Yesterday at the Nigerian Stock Exchange (NSE), Dangote Cement plc –an emerging cement major building shareholder value and prosperity in Africa –presented its “Facts Behind the Figures” to the capital market community which had in attendance stockbrokers, financial and investment analysts and the members of the Nigerian Stock Exchange, among others.

Dangote Cement plc is the largest company on the Nigerian Stock Exchange. The bellwether with $24bn market capitalisation has 29million tonnes per annum (MTPA) production capacity across its three state-of-the-art plants in Nigeria.

In the six months to June 30, the company’s revenue grew by 5.3 percent to N208.9bn from N198.5bn in the corresponding half-year period of 2013. The company linked this to production constrained by disruption to gas supply.

Its gross profit rose by 1.1 percent from N132.1bn in H1’13 to N133.5bn in H1’14. Profit Before Tax declined by 0.6 percent, from N107.7bn in H1’13 to N107bn in H1’14.

Among others plans as contained in Dangote Cement plc outlook for 2014, it is investing $300m in additional coal facilities across all plants.

The company’s African expansion is gaining pace according to Devakumar Edwin, group managing director, Dangote Cement plc.

He said that “New Nigerian lines have started producing clinker/cement. Sephaku Cement is already selling cement from Delmas. Zambia is on track for opening in 2014. Cameroon is to begin operations soon. Senegal plant commissioning has commenced.

Ethiopia will commence before the end of the year. Sierra Leone will open in Q4 2014. We are reviewing scope of Kenya in light of finding good limestone deposits. South Sudan is on the hold owing to conflict.”

Article Credit: Businessdayonline

Updated 4 Years ago

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Tags:     Dangote Cement plc     NSE     Devakumar Edwin     Ethiopia     Zambia