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Dangote Cement posts a profit of 191.6 billion naira in 6 months



Dangote Cement posts a profit of 191.6 billion naira in 6 months

By Itohan Abara-Laserian

Dangote Cement posted an after-tax profit (PAT) of 191.6 billion naira, after a tax charge of 89.6 billion naira in its unaudited results for the six-month period ending June 30.

The group’s chief executive, Dangote Cement, Mr. Michel Puchercos, said this in a statement Sunday in Lagos.

Puchercos said the company’s resilient results for the six months ending June 30 were the result of the group’s sales volumes which reached 15.3 million tonnes.

“During the period under review, the company’s Nigerian operations represented a sales volume of 9.87 Mt, while the Pan-African operations contributed to the balance of 5.5 Mt.

“The increase in sales volume was supported by an increase in housing infrastructure and commercial construction.

“We are pleased to report a solid set of good results for the first half of the year.

“Our performance reflects strong demand across the group, with increases in revenue and profitability, compared to the same period last year,” he said.

Pucheros added, “This strong intrinsic performance is amplified by the lower Q2 2020 results due to COVID-19.

“The growth trend continues and we are striving to meet strong market demand in all of our countries of operation. “

According to him, the company will continue to place a strong emphasis on health and safety measures in all of our engagements with stakeholders.

“We have learned a lot over the past year about how to mitigate the risks associated with COVID-19.

“We remain committed to protecting our team members and our communities by fully complying with local laws and regulations.

“We are improving production from our existing and new assets and I am pleased to report that our three factories in Mt Okpella, Edo, are on track to enter service in the next quarter,” he said.

Puchercos also said the company’s alternative fuel project, focused on harnessing waste management solutions, reducing CO2 emissions and sourcing local materials, is at an advanced stage, while the purchase and installation of the necessary equipment in all factories was in progress.

He added that Dangote Cement focuses on good governance. (NAN)

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