Lagos, July 31, 2023: Dangote Cement has reported a robust pan-African performance for the half year ended June 30, 2023.<\/p>\n\n\n\n
This is contained in the company\u2019s six months unaudited results.<\/p>\n\n\n\n
It shows that sales volume for pan-African operation was up 11.6 per cent compared to 4.9 Metric tonnes (Mt) in H1 2022.<\/p>\n\n\n\n
The pan-African region includes all the cement plant\u2019s operations outside Nigeria.<\/p>\n\n\n\n
The report stated that the company\u2019s sales volume in the period under review stood at 5.4Mt while total sales volume for the group within the period was 13.4Mt.<\/p>\n\n\n\n
It attributed the performance to robust demand, particularly from Ethiopia, Senegal, Zambia, and Congo.<\/p>\n\n\n\n
\u201cHence pan-African revenues grew by 81.8 per cent to N336.4 billion; group revenue rose by 17.7 per cent to N950.8 billion.<\/p>\n\n\n\n
\u201cRecurring profit after tax was up by 37.4 per cent to N292.2 billion while profit after tax rose by 3.8 per cent to N178.6 billion,\u201d it said.<\/p>\n\n\n\n
The Chief Executive Officer, Dangote Cement, Mr Arvind Pathak, describing the results as heart-warming said the company delivered positive results in the first half of the year.<\/p>\n\n\n\n
Pathak said the company\u2019s Nigerian operations achieved a 22.6 per cent recovery in sales over the first quarter, which was impacted by the general elections and the cash crunch.<\/p>\n\n\n\n
Pathak, however, noted that the steep currency devaluation in mid-June slowed the volume recovery and increased the already inflated operating cost.<\/p>\n\n\n\n
\u201cWe navigated the tough terrain, thanks to our strong operational framework and rigorous focus on cost management.<\/p>\n\n\n\n
\u201cI am pleased at the remarkable improvement witnessed in our pan-Africa operations,\u201d he said.<\/p>\n\n\n\n
Pathak said the 0.4Mta grinding plant in Ghana had commenced operation while the completion of a 1.5Mta grinding plant in Cote d\u2019Ivoire was on track.<\/p>\n\n\n\n
He said the company would continue to focus on its strategic growth priorities, hinged on its vision of transforming Africa and building a sustainable future.<\/p>\n\n\n\n
\u201cI am optimistic that our business remains resilient and well positioned to overcome unforeseen macroeconomic headwinds,\u201d he said.<\/p>\n\n\n\n
Dangote Cement is Africa\u2019s leading cement producer with 52.0Mta capacity across Africa.<\/p>\n\n\n\n
The company has operations in Cameroon (1.5Mta clinker grinding), Congo (1.5Mta), Ghana (2.0Mta import), Ethiopia (2.5Mta), Senegal (1.5Mta), Sierra Leone (0.5Mta import), South Africa (2.8Mta), Tanzania (3.0Mta) and Zambia (1.5Mta).<\/p>\n\n\n","protected":false},"excerpt":{"rendered":"
Lagos, July 31, 2023: Dangote Cement has reported a robust pan-African performance for the half year ended June 30, 2023. This is contained in the company\u2019s six months unaudited results. It shows that sales volume for pan-African operation was up 11.6 per cent compared to 4.9 Metric tonnes (Mt) in H1 2022. The pan-African region […]<\/p>\n","protected":false},"author":2,"featured_media":4269,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1366,949],"tags":[643],"class_list":["post-51946","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-economy","tag-dangote-cement","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"\n