Dangote Cement grows H1 profit by 5.8% to N126.14bn

Last updated: July 24, 2020 3:22 pm

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Dangote Cement Plc has released its earnings report for the first-half (H1) of year 2020. The unaudited result for the H1 to June 30 shows revenue of N476.85billion as against N467.73billion recorded in H1’19, up 2 percent.

The company’s cost of sales went up to N202.42billion in H1’20 from H1’19 level of N193.17billion, up 4.8 percent.

The cement maker’s gross profit stood flat at N274.43billion. Profit Before Tax in H1’20 increased to N162.85billion from N155.48billion in H1’19, up 4.7 percent. Profit After Tax rose to N126.14billion in H1’20 from H1’19 level of N119.24billion, up 5.8percent.

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ByIheanyi Nwachukwu

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Iheanyi Nwachukwu, is a creative content writer with over 18 years journalism experience writing on banking, finance and capital markets. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA).