Dangote Cement Plc – a cement manufacturing and distribution company – reported revenues of N284.59 billion (Ghs 4,343,349,913.28) in 2020 Q3 compared to N212.06 billion (Ghs 3,236,413,024.39) the same period in 2019 – a 34.20 per cent increase.
Key highlights for 2020 Q3
- Revenues increased to N284.59 billion (Ghs 4,343,349,913.28), +34.20% YoY
- Revenues from the sale of cement and clinker increased to N284.58 billion (Ghs 4,343,349,913.28), +34.22% YoY
- Revenues from the sale of other products declined to N9 million (Ghs 137,356.02), -70.97% YoY
- Finance income – interest increased to N3.34 billion (Ghs 50,974,344.53), +143.48% YoY
- Finance income – others recorded was N4.76 billion (Ghs 72,646,071.85) +100.00% YoY
- Finance costs decreased to N13.44 billion (Ghs 205,118,320.51), -33.34% YoY
- Pre-tax profits increased to N109.11 billion (Ghs 1,665,212,793.98), +158.60% YoY
- Earnings Per Share increased to N4.8 (Ghs 0.073) +129.67% YoY
Dangote Cement Plc recorded a major boost in its sale of cement and clinker revenue-generating units, as total revenues increased.
Profits of Dangote Cement Plc also increased in the period under consideration.
The results indicate that the rise in profits was partly aided by a rise in finance income – interests – as well as declined finance costs, compared to the same period last year.
Source: nairametrics
Via: norvanreports
