Economy
Dangote Cement Rakes N805b as Revenue, N204b Profit in 2017
**Declares N10.50k per share dividend
By Dipo Olowookere
One of the leading cement makers in the country, Dangote Cement, generated the sum of N805.6 billion as revenue in 2017, Business Post is reporting.
This information was made known in the company’s financial statements for the year ended December 31, 2017, released today on the Nigerian Stock Exchange (NSE).
In the firm’s earnings, it was disclosed that the amount made last year surpassed what was realized two years ago when Nigeria slipped into recession, N615.1 billion.
Business Post gathered from the financial statements that the revenue was buoyed by activities from Dangote Cement’s operations in Nigeria.
The company’s operations in Nigeria, its biggest market in Africa, contributed N552.4 billion to the total revenue generated last year, an increase from the N426.1 billion it raked two years ago.
However, the volume of cement sold in Nigeria in 2017 depreciated by 7 percent to 12.7 million tonnes from 15.1 million tonnes in 2016.
During the year under review, the cement manufacturer recorded a gross profit of N454.3 billion compared with N291.3 billion in 2016, while the selling and distribution expenses closed at negative N109.9 billion against negative N82.7 billion in 2016.
Its profit from operating activities grew by 66.7 percent to N304.2 billion last year from N182.5 billion two years ago.
Dangote Cement’s pre-tax profit closed at N289.6 billion in the period under review in contrast to N142.9 billion in the corresponding period, while the post-tax profit stood at N204.3 billion as at December 31, 2017 against N142.9 billion as at December 31, 2016.
The company’s total assets closed at N1.7 trillion in the 2017 financial year against N1.5 trillion in 2016, while the total liabilities stood at N884.5 billion last year compared with N803.6 billion two years ago.
In addition, the shareholders’ fund of Dangote Cement finished at N781.4 billion in 2017 in contrast to N725.5 billion in 2016.
Business Post reports that the firm’s Earnings Per Share (EPS) stood at N11.65k in the period under review compared with N8.78k two years ago.
Meanwhile, the board of Dangote Cement has proposed the payment of N10.50k per share dividend to its shareholders to be paid on June 21, 2018, a day after its Annual General Meeting (AGM) slated for the Civic Centre, Lagos by 11am.
By Aduragbemi Omiyale
Shares of First Holdco Plc worth N45.0 billion issued through a private placement have been listed on the Nigerian Exchange (NGX) Limited.
A circular issued by the Head of Issuer Regulation Department of the NGX Regulation Limited, Mr Godstime Iwenekhai, disclosed that the equities were admitted for trading at the stock market on Monday.
According to the notice, the additional shares brought for listing to rank pari passu with existing shares of the organisation were 1,021,334,544 units.
These stocks were sold to one of the company’s major shareholders at a unit price of N44.06, amounting to N45.0 billion.
The total issued and fully paid-up shares of First Holdco, as a result of this listing, are now 45,475,027,677 ordinary shares of 50 Kobo each.
“Trading licence holders are hereby notified that an additional 1,021,334,544 ordinary shares of 50 Kobo each of First Holdco Plc were on Monday, June 22, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares listed on NGX arose from the company’s private placement of 1,021,334,544 ordinary shares of 50 Kobo each at N44.06 per share.
“With the listing of the additional shares, the total issued and fully paid-up shares of First Holdco Plc have now increased to 45,475,027,677 ordinary shares of 50 Kobo each from 44,453,693,133 ordinary shares of 50 Kobo each,” the disclosure stated.
By Adedapo Adesanya
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has approved fresh import licences for petrol and diesel for the third quarter of 2026 (July – September) to prevent potential supply shortages in the domestic market.
According to a report by global energy intelligence firm, Argus Media, the latest approvals were issued to major downstream operators amid declining fuel stock levels and concerns over reduced petrol production at the 700,000 barrels per day Dangote Petroleum Refinery in Lagos.
The move comes as Nigeria continues to balance increasing local refining capacity with the need to guarantee adequate supplies of petroleum products across the country.
According to the Argus report, domestic firms, including AA Rano, AYM Shafa, Bono Energy, Nipco, Matrix Energy and Pinnacle Oil, received permits to import Premium Motor Spirit, popularly known as petrol, during the July-September period.
The publication further reported that the same companies, with the exception of Nipco, were granted approvals to import Automotive Gas Oil, commonly known as diesel. The fresh approvals follow an earlier batch of petrol import permits issued by the regulator in May, covering about 720,000 metric tonnes.
Quoting a regulatory source, Argus noted that many of the companies granted the latest approvals were among those that had received permits in previous rounds. “These are some of the same ones that previously received the PMS permits,” the source was quoted as saying.
It was also claimed that AA Rano and Matrix Energy each received approvals to import 180,000 metric tonnes of petrol. AYM Shafa received approval for 120,000 metric tonnes, while Pinnacle Oil received a permit covering 150,000 metric tonnes.
For diesel imports, Argus reported that AYM Shafa obtained a permit for 60,000 metric tonnes, while Pinnacle secured approval for 45,000 metric tonnes. The report stated that the import approvals were issued only recently, after being delayed from an initial target date of June 15.
By Adedapo Adesanya
Three securities weakened the NASD Over-the-Counter (OTC) Securities Exchange by 1.01 per cent on Tuesday, June 23, dragging the market capitalisation down by N25.91 billion to N2.544 trillion from Monday’s N2.570 trillion. Also, the NASD Security Index (NSI) decreased by 43.17 points to 4,239.34 points from 4,282.51 points.
The triplet price losers were Central Securities Clearing System (CSCS) Plc, which gave up N4.82 to trade at N75.00 per unit versus Monday’s closing price of N79.82 per unit. NASD Plc depreciated by N3.70 to close at N33.30 per share compared with the preceding day’s N37.00 per share, and Nitrox Industrial Gases Plc marginally lost 1 Kobo to sell at N21.41 per unit, in contrast to the previous session’s N21.42 per unit.
Tuesday’s trading data showed that the volume of securities traded by investors retreated by 35.9 per cent to 211,671 units from 330,034 units, and the value of securities fell by 82.9 per cent to N5.6 million from N32.7 million, while the number of deals doubled to 38 deals from 19 deals.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by value on a year-to-date basis, with 3.4 billion units worth N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units valued at N6.5 billion, and CSCS Plc with 68.1 million units transacted for N4.7 billion.
GNI Plc also closed the trading day as the most traded stock by volume on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, trailed by Infracredit Plc with 2.3 billion units exchanged for N6.5 billion, and Resourcery Plc with 1.1 billion units sold for N415.7 million.
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