Dangote Cement’s overall group revenue increased by 36.5% from NGN442.1bn (US$1.08bn) in the first 9M16 to NGN603.6bn in 9M2017, despite a 10.1% fall in group cement volumes to 16.5Mt, as the impact of price increases dampened demand in Nigeria. The group’s profit for the period was NGN193.1bn, up 44.6% compared to NGN133.5bn in 2016.
“Dangote Cement has continued to perform strongly in 2017 with revenues up nearly 37% despite a fall in volumes. In our key operations in Nigeria we have significantly improved our fuel mix and this has helped increase margins across the Group. It is especially good for Nigeria because most of the coal we are using is mined in our own country, ” said Onne van der Weijde, the company’s CEO.
“Our Pan-African operations are performing strongly with excellent sales growth in Cameroon, Ethiopia and Senegal. We are consolidating our success across Africa and have just commissioned our 1.5Mta factory in Congo, the 10th country in which we have established operations,” he added.
See analysis of all factories’ results at: https://www.cemnet.com/News/story/162683/dangote-cement-group-increases-revenues-by-37-in-9m17.html
