Business
Update: Dangote Cement gross revenue soars by 29 percent – on track to dominate African market
Dangote Cement’s gross revenues grew by 29 percent to US$1.82 billion for the third quarter 2013, up from US$1.41 billion recorded in the corresponding period in 2012.
Dangote Cement recorded a profit before tax of US$952 million for the 9 month period to September 2013, an increase of 43 percent Year-on-Year, from US$670 million as at the third quarter in 2012.
Operational expenses grew by 57 percent to US$ 211 million in the 9 month through September 2013, while finance cost reduced by 5 percent to US$ 57 million in the current period 2013.
The results for the third quarter 2013 showed that after-tax income increased to US$ 989 million representing an increase of 29 percent compared to US$674 million recorded the year before.
Earnings per share increased by 43 percent in the current period to US$0.058 from US$0.040 in the third quarter in 2012.
Return on equity and Assets for the 9 month through September 2013 increased to 29 percent and 20 percent respectively, while profit margin jumped to 56 percent – the highest profitability and efficiency performance seen by any firm in Nigeria.
Total inventories in the quarter were up 1 percent to US$191 million in the current period, this underlines the ability of the company to sustain minimum inventory to generate high sales.
