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Dangote Cement Plc records 34.20% increase in 2020 Q3 revenues

Dangote Cement Plc recorded a major boost in its sale of cement and clinker revenue-generating units, as total revenues increased.

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Dangote Cement Plc. appoints Ms. Berlina Moroole as non-Executive Director

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

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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.

Adeyemi holds a PhD in Accounting Sciences. He has worked in the Educational Sector and as an Independent Consultant.

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