Dangote Cement Plc today released its Full year audited 2018 results for the year ended 31 December 2018.
Here are the key highlights of the result:
Revenue
The company reported revenue of ₦901.2 billion for the period ended December 2018 compared to ₦805.5 billion reported for the period ended December 2017. This represents a 11.9% increase for the comparative period in 2017.
Profit Before Tax
Profit before tax was ₦300.8 billion for the period ended December 2018, a 3.9% increase from ₦289.59 billion reported for the period ended December 2017.
Profit After Tax
The company’s profit after tax for the half year ended 31st December 2018 was ₦390.3 billion as against ₦204.2 billion recorded in FY 2017. This represents a 91.1% increase in the comparative period in 2017.
Earnings Per Share
Dangote Cement Plc reported earnings per share of N22.83 for the period ended December 2018 compared to N11.65 reported for the comparative period in 2017.
Current Share Price
Dangote Cement traded at ₦192.50 during today’s session on the floor of the Nigerian Stock Exchange (NSE).
How can the Profit after Tax be N390 billion when Profit before tax was N300 billion. Is it a mistake?
Good Afternoon. There was a tax credit granted the firm. So yes, profit after tax is higher than profit before tax.
Dangote Cement got a tax grant from the Federal Government for the Apapa road construction. So their PAT is inclusive of N89 billion.