Dangote Cement Plc has released its interim second-quarter 2019 financial statements, which show fairly positive performances across all major indicators. Profit after tax jumped by 5.4% to N119.2 billion. Below are the major highlights of the results:
Revenue: The company’s revenue dropped by 3% to N467.7 billion in Q2 2019, compared to N482.4 billion that was recorded in Q2 2018. The decline in revenue happened in spite of the fact that the company’s production cost decreased slightly to N193.1 billion, down from N197.6 billion.
Profit Before Tax: Dangote Cement’s profit before tax stood at N115.5 billion in Q2 2019 compared to N185.5 billion in Q2 2018. Representing a decrease of 16.2%.
Profit After Tax: Interestingly, the cement maker’s profit after tax increased by 5.4% to N119.2 billion, compared to N113.1 billion in Q2 2018.
Note that the increase in profit after tax could have been facilitated by the fact that Dangote Cement paid less income tax in Q2 2019. Specifically, a total of N36.2 billion worth of income tax was paid for the period under review. This is less than N72.3 billion paid in Q2 2018.
Earnings Per Share: This stood at N7.01 in Q2 2019, compared to N6.60 in Q2 2018.
In the meantime, Dangote Cement Plc remains the most capitalised company on the Nigerian Stock Exchange with N2.8 trillion. The company’s shares are currently trading at N170 on the Nigerian bourse.
To download the company’s interim Q2 financial statements, check HERE.