Dangote Cement records N405.5bn profit, N1trn revenue, in 9 months

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Aliko Dangote

Dangote Cement records N405.5bn profit,  N1trn revenue, in 9 months

Dangote Cement Plc has announced a profit before tax of N405.5bn for the nine months ended September 2021.

The conglomerate said that the result was a sharp rise in profit from the N271.96bn which it recorded in the corresponding period last year.

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Dangote which made this known in a statement issued in Lagos said that it also recorded N1.02tn revenue, while Its group sales hit 22.2 million tonnes.

The company added that its sales volume in Nigeria alone during the period stood at 14.1 million tones.

The statement quoted Michel Puchercos, the company’s group chief executive officer, as saying that the management was pleased to report its performance for the first nine months of the year.

It said Puchercos added that the firm’s alternative fuel project, which aimed to leverage waste management solutions, reducing carbon dioxide emissions and sourcing material locally, was at an advanced stage.

“Group volumes for the nine months were up 15.4 per cent compared to the first nine months of 2020. Given the strong rebound in Q3 2020 following the impact of COVID-19 in the first half of the year, volumes in Q3 2021 were slightly lower than Q3 2020, as anticipated though worsened by heavier rains.

“However, the overall growth trend continues, supported by our ability to meet the strong market demand across all our countries of operation. The economic performance and efficiency initiatives across the group, enabled the offsetting of inflationary pressures on some of our cost lines.

“Our Nigerian business recorded volume growth of 18.7 per cent in the 9M 2021 at 14.1 metric tonnes and despite operating in a complex, challenging, and fast-moving environment, Dangote Cement is consistently delivering superior profitability and returns to the shareholders,” the statement said.

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