Since leading cement maker – Dangote Cement, released its Q3 report on November 6, it has gained ₦273 billion on the Nigerian Stock Exchange.
However, at the close of trade yesterday, the market capitalization of Dangote Cement stood at ₦3.152 trillion.
- Its Market Capitalization at the open of trade on November 6 was N2,879,845,751,445.00.
- Its Market Capitalization at the close of trade on November 10 is N3,152,493,869,925.00.
- This gives a difference of ₦272,648,118,480.00, which is the total gains on the outstanding 17,040,507,405 ordinary shares of 50 kobo issued by the company – fully paid for by shareholders.
What you should know
It is important to note that the gains on the total shares of Dangote Cement were driven by the impressive performance of the Group in the third-quarter of 2020.
Recall that Nairametrics reported three days ago that Dangote Cement recorded a revenue of N284.59 billion in 2020 Q3 compared to N212.06 billion in the same period in 2019, which is 34.20% higher.
However, during this period, it made a pre-tax profit of N109.11 billion, which is 158.60% higher than its pre-tax profits in the corresponding period of 2019.
Michel Pucheros, Chief Executive Officer of Dangote Cement, attributed the impressive performance by the group to the strong appetite for real estate investment and the recovery of infrastructure spending by the government.
