ADVERTISEMENT
  • The Membership Club
  • #EndSARS Dashboard
  • PT Hausa
  • About Us
  • Advert Rates
  • Careers
  • Contact Us
Tuesday, May 24, 2022
Premium Times Nigeria
  • Home
  • Gender
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • COVID-19
    • News Reports
    • Special Reports and Investigations
    • Data and Infographics
    • Health Specials
    • Features and Interviews
    • Multimedia
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Special Reports/Investigations
    • Data and Infographics
    • Features and Interviews
    • Multimedia
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • #EndSARS Dashboard
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
  • #PandoraPapers
  • AUN-PT Data Hub
  • Home
  • Gender
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • COVID-19
    • News Reports
    • Special Reports and Investigations
    • Data and Infographics
    • Health Specials
    • Features and Interviews
    • Multimedia
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Special Reports/Investigations
    • Data and Infographics
    • Features and Interviews
    • Multimedia
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • #EndSARS Dashboard
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
  • #PandoraPapers
  • AUN-PT Data Hub
Premium Times Nigeria
BUA Group Ad BUA Group Ad BUA Group Ad
ADVERTISEMENT
Dangote Cement factory

Dangote Cement factory

Dangote Cement Q1 profit climbs to N90 billion on booming sales

Sales surged by more than one-third from N249.182 billion to N332.7 billion.

byRonald Adamolekun
April 30, 2021
2 min read

Dangote Cement Plc Friday said its after-tax profit from January through March rose by almost half to N89.7 billion, compared to the same period of last year.

Sales surged by more than one-third from N249.182 billion to N332.7 billion, with Nigeria – its home market – delivering N239.7 billion of that sum while the rest of its operations across Africa contributed N93 billion or 28 per cent, the company’s unaudited earnings report for the first quarter showed.

Africa’s biggest cement-maker is facing soaring demand in Nigeria and has lined up strategies to expand by over one third of its current capacity as the country’s cement consumption spikes by 40 per cent.

“We are expanding capacity from about 50,000 tons a day at the beginning of the year to 70,000 tons a day at the end of the year,” Edwin Devakumar told Bloomberg last Friday.

Pre-tax profit stood at N130.1 billion, 48 per cent bigger than that of the first quarter of 2020.

Profit after tax came to N89.710 billion, hammered by a N15.790 billion loss in pan-African operations, which curbed an after-tax profit of N103.776 billion from the Nigerian unit. That compares with the N60.592 billion posted in the corresponding period of last year.

Earnings per share advanced to N3.60 up from N5.29.

Last week, the House of Representatives lambasted the dominance of the Nigerian cement trade by Dangote Cement, BUA Cement and Lafarge Africa, saying price increase had stood in the way of construction, which is vital to economic recovery and calling for more flexible conditions to attract new players.

Dangote Cement, which controls about 61 per cent of the market, has denied insinuations of price-fixing.

The Nigerian government Thursday handed Dangote Cement, the country’s biggest company by market value, a tax credit worth $54 million or N22.3 billion or the construction of Apapa-Oworonshoki-Ojota road in Lagos and the Lokoja-Obajana-Kabba road connecting Kogi and Kwara States.

  • WhatsApp
  • Tweet
  • Email
  • Print
  • Telegram
  • More
  • Share on Tumblr
  • Pocket

WATCH: Governor Yahaya Bello's Roadmap to Hope 2023

CITIZEN-FM AD


Support PREMIUM TIMES' journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate


TEXT AD: Why women cheat: what every Nigerian man should know







PT Mag Campaign AD

Previous Post

NBS tackles Ngige, says World Bank never questioned its unemployment data

Next Post

Minimum Wage: How increment will be implemented in pension scheme – FG

Ronald Adamolekun

Ronald Adamolekun

More News

The Central Bank of Nigeria, CBN. [PHOTO CREDIT: Ehud Kaduna]

BREAKING: Nigeria’s central bank raises interest rate from 11.5% to 13%

May 24, 2022
An NLPC PFA Building

NLPC repositions to capitalise on bond returns

May 24, 2022
Central Bank of Nigeria on the need for a Trade Remedies Legislation

Be realistic on interest rate decision, analysts tell CBN

May 23, 2022
NGX trading floor

Nigerian stocks extend slide as profit-taking deepens

May 23, 2022
National Bureau of Statistics (NBS)

Nigeria’s GDP slows in 2022 first quarter over previous quarter

May 23, 2022
A phone call model used to illustrate the story

Nigerian govt sets up new phone call tax

May 23, 2022
Next Post
FILE PHOTO: Pensioners protesting poor treatment

Minimum Wage: How increment will be implemented in pension scheme - FG

Enyimba FC [PHOTO CREDIT: @EnyimbaFC]

CAF Confederation Cup: Enyimba have Pyramids to scale in quarter-final

Leave Comment

Search

AUN-PT Ad





Transport-Technology


Stanbic Ad


Access Bank Ad





Glo Ad


Subscribe to News via Email

Enter your email address and receive notifications of news by email.

Join 1,845,798 other subscribers.

Advertisement






netherland biz school Advert



Zenith Advert

ADVERTISEMENT

Our Digital Network

  • PT Hausa
  • Election Centre
  • Human Trafficking Investigation
  • Centre for Investigative Journalism
  • National Conference
  • Press Attack Tracker
  • PT Academy
  • Dubawa
  • LeaksNG
  • Campus Reporter

Resources

  • Oil & Gas Facts
  • List of Universities in Nigeria
  • LIST: Federal Unity Colleges in Nigeria
  • NYSC Orientation Camps in Nigeria
  • Nigeria’s Federal/States’ Budgets since 2005
  • Malabu Scandal Thread
  • World Cup 2018
  • Panama Papers Game
  • Our Digital Network
  • About Us
  • Resources
  • Projects
  • Data & Infographics
  • DONATE

All content is Copyrighted © 2020 The Premium Times, Nigeria

No Result
View All Result
  • #PandoraPapers
  • Gender
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Health
    • COVID-19
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Investigations
    • Investigations
    • Interviews
    • Multimedia
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • #EndSARS Dashboard
  • Projects
    • Panama Papers
    • Paradise Papers
    • Parliament Watch
    • AGAHRIN
  • AUN-PT Data Hub
  • Opinion
  • The Membership Club
  • Dubawa
  • DONATE

All content is Copyrighted © 2020 The Premium Times, Nigeria

Our website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.