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Dangote Cement 3Q Results: Net Income Mushrooms Up N 92 Billion

By on November 2, 2011

Dangote Cement, behemoth of the African building materials sector released its 3Q unaudited financial statements to the Nigerian Stock Exchange today.

Turnover was up 19% to N 173.83 Billion from N 146.56 Billion at the end of Q3, 2010.

Profit Before Tax jumped 22% to N 93.88 Billion from N 76.93 billion at the end of Q3, 2010.

Likewise Net Income grew just a bit over PBT at 23% to N 92 Billion from N 75.3 Billion over the same period last year.

The company has been increasing its capacity and dominance all over Africa announcing new plants in Ivory Coast and the Federal Republic of Congo.

The company’s fixed assets mushroomed 13% to N 345 Billion from just over N 300 Billion at the end of last year.

The stock price of Dangote cement has proven resilient despite downward pressure on the overall sector and exchange. It is currently trading at N 102.99.