Dangote Cement Q3 Earnings Rise By 29%

By Alphonsus E.W


Dangote Cement, a subsidiary of Dangote Group has announced that it has recorded an increase of 29% in its income. The increase, which is after tax, was achieved as a result of its far-reaching investments across Africa which include; 3 cement plants in Nigeria as well multi-million dollar cement plants in Nepal, Ethiopia and Tanzania.

The company saw its profits jump from N107.1 Billion in 2012 to N156.1 Billion in 2013, a factor which has impinged on its share price it jumped to N190 representing an increase of 59%. The growth recorded has ensured that the company maintains a lion share of the market, with statistics showing that it is as high as 73%.