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Dangote Cement Posts N71 billion Profit as Sales Top N142 billion

By on August 3, 2012

Dangote Cement, the prize of the Dangote Group, transmitted its first half (January to June) earnings report to the Nigerian Stock Exchange yesterday.

Africa’s largest cement manufacturer declared a revenue of N142 billion in the unaudited financial statements. The company had generated sales of N 113 billion over the same period in 2011, and this year’s first-half sales figure represents a 26% increase in revenue.

Likewise, the company’s Profit After Tax was N71 billion, up 25% from N57 billion in 2011.

The company’s share price is up 17% year-to-date, outperforming the NSE’s All Share Index which is up +13% ytd.

Dangote Cement is eyeing a listing on the London Stock Exchange sometime in the next year.

The company management is expected to release more guidance on the numbers shortly.