Dangote Cement Profit Grows by 6% to N190bn
Dangote Cement Plc grew net profit by less than 6.3% in the first half of 2024, the company’s unaudited financial statement reviewed by MarketForces Africa showed.
The cement giant’s revenue rose by 85% to N1.76 trillion following price hike in the market, from N950.832 billion in the comparable period in 2023, its unaudited financials revealed.
However, a spike in production costs affected the company’s strong line performance in the period, justifying an increase in the cement price with Nigeria’s damaging inflation condition.
Details from the cement company’s financials revealed that production costs of sales accelerated by about 118% year on year to N833.273 billion in the first half of 2024, from N383.088 billion 12 months ago.
Gross profit came at 63.29% to settle at N926.782 billion in the first six months of operation from N567.744 billion in the comparable period.
More details later #Dangote Cement Profit Grows by 6% to N190bn
Minister Unveils Tribunal to Fast-Track Dispute Resolution in Nigeria’s Capital Market
