Dangote Cement reports 44% rise in profit in nine months

Dangote Cement

Dangote cement plc is reporting 44% rise in profit to NGN193.1 billion in nine months in the year 2017 compared to NGN133. 5 billion recorded in the same period in the year 2016.

The company ended the period with revenue of 603.5 billion in contrast to NGN442. 0 million posted in the previous year while gross profit rose to NGN343. 7 billion against NGN210.4 billion recorded in the year before.

Dangote Cement said its total assets for the period under review is NGN1.6 trillion compared to NGN1.5 trillion reported in the fiscal year 2016 while total liabilities was NGN781.6 billion versus NGN730.5 billion recorded in the year 2016.