Dangote Cement Plc – a cement manufacturing and distribution company, reported revenues of N284.59 billion in 2020 Q3 compared to N212.06 billion the same period in 2019 – a 34.20% increase.
READ: Despite shutdown, Caverton rakes in N8billion in Helicopter and Aircraft revenues
Key highlights for 2020 Q3
- Revenues increased to N284.59 billion, +34.20% YoY.
- Revenues from the sale of cement and clinker increased to N284.58 billion, +34.22% YoY.
- Revenues from the sale of other products declined to N9 million, -70.97% YoY.
- Finance income – interest increased to N3.34 billion, +143.48% YoY.
- Finance income – others recorded was N4.76 billion +100.00% YoY.
- Finance costs decreased to N13.44 billion, -33.34% YoY.
- Pre-tax profits increased to N109.11 billion, +158.60% YoY.
- Earnings Per Share increased to N4.8, +129.67% YoY.
READ: BUA Cement Plc posts impressive unaudited H1, 2020 financial results
Bottom Line
Dangote Cement Plc recorded a major boost in its sale of cement and clinker revenue-generating units, as total revenues increased.
Profits of Dangote Cement Plc also increased in the period under consideration.
READ: Jumia reports N17.1 billion loss in Q2 as COVID-19 fail to boost revenue
The results indicate that the rise in profits was partly aided by a rise in finance income – interests and finance income – others, as well as declined finance costs, compared to the same period last year.
This is a big result and hight performance unexpected..Congrat to all team and special to Mr Aluko Dangofe foe this inovation
Pls bring down the price of Cement
The price went too high for no tangible reason
Let’s be fair to the society