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Dangote Cement’s half-year profit climbs to N126bn, helped by 2% revenue boost

Dangote Cement Plc Friday announced its pre-tax profit for the first half of 2020 advanced to N126.143 billion, 5.8% higher than the N119.240 billion reported in the same period the year before.

This came following a modest upward shift in gross earnings from N467.730 billion to N476.852 billion, equivalent to 2% growth, its Interim Financial Statements for the Three Months and Six Months Ended 30th June 2020, posted on the Nigerian Stock Exchange (NSE) website showed.

Sub-Saharan Africa’s biggest cement manufacturer was issued a restraining order by a Benin City court over an ownership tussle with BUA Cement Plc, arguably its chief rival in the West African cement trade, involving mining sites in Obu, Okpella, Edo State.

Read also: Dangote Cement lists N100 billion bonds on NSE

Its profit before tax came to N162.851 billion, 4.7% up from the N155.488 billion declared in 2019.

Earnings Per Share (EPS) (basic and diluted) jumped by 6.3%, moving from N7.01 to N7.45.

With outstanding shares in the neighbourhood of 17.041 billion units, Dangote Cement’s Price to Earnings ratio stands at 10.97 on Saturday according to Bloomberg.

Its EPS is N12.23.

Shares in Dangote Cement closed on the floor of the NSE Friday at N134.20 per share.

Ronald Adamolekun

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Ronald Adamolekun

Ronald Adamolekun is a creative writer with a mixed bag of experience in fields as diverse as data journalism, financial reporting and editing.

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