Europe / Middle East / Africa
Dangote Cement pre-tax profit rises by 23 per cent
Aug, 03 2012
(Nigeria) -- Nigeria’s biggest company by market capitalization, Dangote Cement PLC recorded a 24.2 per cent profit for the six months through June, led by growth in revenue.
Dangote Cement recently opened a new $1 billion plant.
The company in a report to the Nigerian Stock Exchange on Thursday, showed its net income increased to N71.1 billion from N57.3 billion a year earlier while turnover advanced to N142 billion from N112.7 billion.
On April 5, the cement manufacturing company announced plans to raise its output to N46.3 million metric tons by 2015 as it’s expands across Africa.
Output in Nigeria will advance to 32 million tons by 2015 from 20 million tons this year.
Shares in the cement firm gained 0.42 per cent to N123 on the news.
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