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.
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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.
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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.
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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.