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Dangote Cement Generates N482b as Revenue in Six Months

By Dipo Olowookere

One of the movers and shakers of the Nigerian Stock Exchange (NSE), Dangote Cement Plc, on Friday released its financial scorecard for the first half of 2018.

In the financial results, the company owned by Africa’s richest man, Mr Aliko Dangote, generated a total of N482.4 billion as revenue from its business operations in the period under review compared with the N412.7 billion it raked in the same period of last year, representing a 16.9 percent increase this year.

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The cement giant stated in the results that during the period under review, it spent N197.6 billion on production cost of sales versus N177.6 billion it expended exactly 12 months ago.

It was further revealed in the company’s earnings report that N24.7 billion was used for administrative expenses in H1 2018 against M21 billion in H1 2017, while selling and distribution expenses gulped N62.2 billion in contrast to N51.9 billion in H1 2017.

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However, the gross profit for the period stood at N284.8 billion as at June 30, 2018 versus N235.1 billion as at June 30, 2017.

Dangote Cement divulged in the statements that it generated N200.5 billion as profit from operating activities against N163.5 billion 12 months ago.

Business Post reports that the cement miller recorded a profit before tax of N185.5 billion against N155.6 billion it achieved in H1 2017, while the profit after tax stood at N113.2 billion as at June 30, 2018 compared with N109.2 billion as at June 30, 2017.

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During the period under review, the total assets of Dangote Cement stood at N1.7 trillion versus N1.6 trillion earlier.

In addition, the total liabilities stood at N1 trillion as at June 30, 2018 against N815.3 billion as at June 30, 2017, while the shareholders’ fund closed at N727.9 billion compared with N822.7 billion exactly 12 months ago.

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Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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