Tuesday, May 10, 2011
Dangote Cement N28b Made N28b profit in first quarter
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| Dangote. |
Dangote Cement Plc (DCP) a member of the Dangote Group has posted a profit before tax (PBT) of N27.90 dollars for the first quarter ended March 31, 2010.
This represents a growth of 4.5 percent from N25.45 billion recorded in the corresponding period of 2010.
The company's fiscal year recorded a turnover of N54.51 million compared with N49.87 billion in 2010.
According to the unaudited interim financial report approved by the Nigerian Stock Exchange (NSE), Dangote Cement gross margin increased from N26.73 billion to N28.83 billion in the review period. Its operating profit also increased from N25.29 N27.36 billion dollars, while profit after tax (PAT) stood at N27.47 dollars, a significant jump from N24.71 in 2010.
In the year ended December 31, 2010, the company achieved a turnover of N202.565 billion against N189.6 dollars recorded for the previous year.
While the benefit of society before tax increased by 58.9 per cent to N101.33 billion from N63.8 billion profit the year before after tax increased by 73.7 per cent to N106.6 billion N61.4 in 2009.
President of Dangote Group, Alhaji Aliko Dangote has assured shareholders of good returns on their investments, saying the important contributions of the new line in Obajana and the beginning of the production of six million tons at the plant later this year Ibeshe , will positively affect the Company's returns on sales and, ultimately, shareholders' investments.
Special Advisor to the President of Dangote Group, Eng. Joseph Makoju speak on the result said: "This impressive result for the year 2010, seen in the context of the relatively stable environment of 2010 is not surprising that the supply and cost of entry of the major manufacturing cement such as natural gas, diesel and LPFO were relatively stable. "
He commended the federal government to improve the environment in the Niger Delta, the main energy source driving the country's industrial sector, adding that face competition from cheap imports of high quality but low / products dumped our markets, manufacturers need Nigerian predictable, stable supply and realistic gas prices, heating oil and diesel to keep their low energy cost and, finally, the finished product prices competitive. "
Dangote Cement Plc is currently the largest listed company in West Africa. The latest ranking of Africa's 50 best companies published by IC Publications, publisher of Business based in London, Africa, recently said that Dangote Cement has a total market value of $ 12.2 billion in mid -March 2011, making it the largest throughout the West African sub-region.
This confirms an earlier report by posts 55, an international rating agency, which ranked the company Dangote Cement top city in Nigeria on a list of 55 companies, the end of last year.
African Business also noted that Dangote Cement, a newcomer on the list, dominated Anglogold Ashanti of Ghana and Nigerian Breweries Plc, who finished second and third with market values of $ 3.8 billion and $ 6.0billion respectively while Zenith Bank Plc, with the market value of $ 3.1billion was considered the fourth largest airline in West Africa. First Bank of Nigeria Plc was fifth with $ 2.9billion.
This represents a growth of 4.5 percent from N25.45 billion recorded in the corresponding period of 2010.
The company's fiscal year recorded a turnover of N54.51 million compared with N49.87 billion in 2010.
According to the unaudited interim financial report approved by the Nigerian Stock Exchange (NSE), Dangote Cement gross margin increased from N26.73 billion to N28.83 billion in the review period. Its operating profit also increased from N25.29 N27.36 billion dollars, while profit after tax (PAT) stood at N27.47 dollars, a significant jump from N24.71 in 2010.
In the year ended December 31, 2010, the company achieved a turnover of N202.565 billion against N189.6 dollars recorded for the previous year.
While the benefit of society before tax increased by 58.9 per cent to N101.33 billion from N63.8 billion profit the year before after tax increased by 73.7 per cent to N106.6 billion N61.4 in 2009.
President of Dangote Group, Alhaji Aliko Dangote has assured shareholders of good returns on their investments, saying the important contributions of the new line in Obajana and the beginning of the production of six million tons at the plant later this year Ibeshe , will positively affect the Company's returns on sales and, ultimately, shareholders' investments.
Special Advisor to the President of Dangote Group, Eng. Joseph Makoju speak on the result said: "This impressive result for the year 2010, seen in the context of the relatively stable environment of 2010 is not surprising that the supply and cost of entry of the major manufacturing cement such as natural gas, diesel and LPFO were relatively stable. "
He commended the federal government to improve the environment in the Niger Delta, the main energy source driving the country's industrial sector, adding that face competition from cheap imports of high quality but low / products dumped our markets, manufacturers need Nigerian predictable, stable supply and realistic gas prices, heating oil and diesel to keep their low energy cost and, finally, the finished product prices competitive. "
Dangote Cement Plc is currently the largest listed company in West Africa. The latest ranking of Africa's 50 best companies published by IC Publications, publisher of Business based in London, Africa, recently said that Dangote Cement has a total market value of $ 12.2 billion in mid -March 2011, making it the largest throughout the West African sub-region.
This confirms an earlier report by posts 55, an international rating agency, which ranked the company Dangote Cement top city in Nigeria on a list of 55 companies, the end of last year.
African Business also noted that Dangote Cement, a newcomer on the list, dominated Anglogold Ashanti of Ghana and Nigerian Breweries Plc, who finished second and third with market values of $ 3.8 billion and $ 6.0billion respectively while Zenith Bank Plc, with the market value of $ 3.1billion was considered the fourth largest airline in West Africa. First Bank of Nigeria Plc was fifth with $ 2.9billion.
