( 2 minutes read)
- Dangote Cement, posted record revenue in the first half of the year as demand revived in Nigeria, and across the continent as the pangs of Covid-19 pandemic is waning across the continent.
- Net income of the company surged 50% to 191 billion naira (US$470 million) from 126.9 billion naira a year earlier. Revenue rose 44.8% to an unprecedented 690.5 billion naira. This is the biggest jump since 2012
- Sales volumes of the company increased 26.1% to 15.3 metric tons.
Dangote Cement, posted record revenue in the first half of the year as demand revived in Nigeria, and across the continent as the pangs of Covid-19 pandemic is waning across the continent.
Net income of the company surged 50% to 191 billion naira (US$470 million) from 126.9 billion naira a year earlier. Revenue rose 44.8% to an unprecedented 690.5 billion naira. This is the biggest jump since 2012.
There are expectations that demand for construction material may get a boost as countries would start investing in building roads, ports and power plants to revive their economies. Nigeria is planning to spend US5.6 billion to spur Africa’s largest economy. Aliko Dangote owned company seems to be fully prepared for meeting such pent up demand.
Sales volumes of the company increased 26.1% to 15.3 metric tons. The cement manufacturer with a capacity to produce 48.6 million metric tons a year plans to start a 3 million metric-ton plant in Okpella, in Nigeria’s Edo State next quarter to boost output.
