Dangote Cement’s half-year profit hits N190bn as revenue jumps 85%

Dangote Cement simulated ₦612.87 ▼0.56% Plc, Africa’s largest cement producer, posted a 6.3% increase in its profit after tax to N189.9 billion for the first half of this year compared to a year earlier. 

Its unaudited results released on Thursday showed that group revenue rose 85.1% to N1.76 trillion.

“Despite the challenges of elevated inflation, high borrowing cost and a further weakening of the currency in the first six months of the year, our business demonstrated strong resilience,” Arvind Pathak, chief executive officer, said. “This was due to our rigorous focus on cost minimisation and our diversified business model.”

He said the company completed 14 shipments of clinker from Nigeria to Ghana and Cameroon.

“This effort resulted in a 55.2% surge in our Nigerian exports, underscoring our commitment to fostering African self-sufficiency,” he said. “Looking ahead, we remain bullish about the growth prospect of the African region, evident in our increased capital investments.”