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Dangote Cement posts N1 trillion revenue in Q3

By Helen Oji
02 November 2021   |   3:04 am
Dangote Cement Plc has achieved a revenue of ₦1.02 trillion for the nine months ended September 30, 2021. This is as even the group sales hit 22.2 million tonnes within the period.

Dangote Cement Plc has achieved a revenue of ₦1.02 trillion for the nine months ended September 30, 2021. This is as even the group sales hit 22.2 million tonnes within the period.

The company’s unaudited result for the third quarter Q3 ended September 30, 2021, showed revenue of ₦1.02 trillion, while profit before tax and after-tax stood at ₦N405.5 billion and ₦278.3 billion with a tax charge of NN127.24 billion within the period under review.

According to the company, sales volume in Nigeria remained strong and accounted for 14.1 million tonnes while Pan-African operations accounted for the balance of 8.2 million tonnes.

Reacting to the performance, the Group Chief Executive Officer of the company, Michel Puchercos, said: “We are pleased to report a solid set of the results for the first nine months of the year.”

He said the group’s volumes for the nine months rose by 15.4 percent compared to the first nine months of 2020, noting that the company’s capacity across Africa is nearly 48.6Mta.

“Given the strong rebound in Q3 2020 following the impact of COVID-19 in the first half of the year, volumes in Q3 2021 were slightly lower than Q3 2020, as anticipated though worsened by heavier rains.

“However, the overall growth trend continues, supported by our ability to meet the strong market demand across all our countries of operation.”

He said the country’s improved economic performance, coupled with efficiency initiatives across the group enabled the offsetting of inflationary pressures on some of our cost lines.

“Our Nigerian business recorded volume growth of 18.7 per cent in nine months of 2021 at 14.1 million tonnes carbondioxide and despite operating in a complex, challenging, and fast-moving environment.

“Our alternative Fuel Project is at an advanced stage which aims to leverage waste management solutions, reducing CO2 emissions and sourcing material locally,” he added.