Leading cement manufacturer, Dangote Cement Plc has declared its 2013
\nfinancials recording an upsurge in its Nigerian sales volume to the tune
\nof 13.3million tonnes leading to a 40.6 per cent increase in profit before
\ntax over the previous year.<\/p>\n
<\/p>\n
The company declared a profit before tax of N190.8 billion for the year.<\/p>\n
<\/p>\n
The audited results of the company announced in Lagos indicated that the
\npre-tax profit is 40.6 per cent higher than that of the previous year
\nwhile consolidated revenue grew up to ₦386.2bn, representing an
\nincrease of 29.4 per cent.<\/p>\n
While the results celebrated the increase in the Company\u2019s sales volume,
\nit showed further that total Nigerian cement market grows by 15.6% to
\nnearly 21.2 million tonnes.<\/p>\n
Dangote cement attributed the increased sales volume to its
\ndirect-to-customer deliveries strategy and described it as proving highly
\nsuccessful accounting for more than 50 per cent of sales, with its Obajana
\nplant sales volumes up 37.2% and Ibese up by 40.4 per cent.<\/p>\n
Consequently, the company recommended a dividend increase of N7.0 per
\nordinary share as against N3 paid out in 2012 an increase of 133 per cent.
\nDangote Cement\u2019s Group Chief Executive, Devakumar Edwin expressed
\nsatisfaction at the performance of the company saying the impressive run
\nwas as a result strategies deployed of sound management of the prevailing
\neconomic situation.<\/p>\n
<\/p>\n
He said; \u201cDangote Cement made excellent progress in 2013. As the Nigerian
\ncement market grew by a strong 15.6% we managed even better growth of
\n28.2%, with our revenues increasing by 29.4% to ₦386.2bn. Our
\ndirect-delivery strategy is proving very popular with customers and I am
\npleased to report that direct-to-customer deliveries now account for more
\nthan half of our sales.<\/p>\n
<\/p>\n
\u201cWe increased our margins despite continuing disruption to our gas supply
\nand believe that the gas distribution infrastructure will be more robust
\nin 2014, enabling us to improve our margins even further. At the same time
\nwe are looking at ways to diversify our fuel supplies to mitigate the
\nimpact of any future disruption and reduce the cost of using alternative
\nfuels to gas.<\/p>\n
<\/p>\n
\u201cOur financial strength has allowed us to increase our dividend by 133% to
\n₦7.0 per share and the coming year will see our new factories
\nopening across Africa as we begin to deliver on our promise to become
\nAfrica\u2019s leading cement producer, generating strong and sustainable
\nreturns for our shareholders.\u201d<\/p>\n
<\/p>\n
Dangote Cement, which is Africa’s leading cement producer is a fully
\nintegrated quarry-to-customer producer with production capacity of 20.25
\nmillion tonnes in Nigeria with three in the countrya and plans to expand
\nin 13 other African countries with new operations beginning to come on
\nstream across the rest of Sub-Saharan Africa.<\/p>\n
<\/p>\n
The Group plans to have around 60 million tonnes of production, grinding
\nand import capacity in Sub-Saharan Africa by 2016.<\/p>\n
Dangote Cement’s Obajana plant in Kogi state, Nigeria, is the largest in
\nAfrica with 10.25mta capacity across three lines and a further 3mta
\ncapacity currently being built.<\/p>\n
<\/p>\n
Edwin stated that Dangote Cement would be investing several billion
\ndollars to build manufacturing plants and import terminals across Africa.
\nCurrent plans are for integrated or grinding plants in Cameroon, Ethiopia,
\nRepublic of Congo, Liberia, Senegal, South Africa, Tanzania, Kenya and
\nZambia, as well as Ivory Coast and Ghana, and import\/packing facilities in
\nGhana and Sierra Leone.<\/p>\n","protected":false},"excerpt":{"rendered":"
Leading cement manufacturer, Dangote Cement Plc has declared its 2013 financials recording an upsurge in its Nigerian sales volume to the tune of 13.3million tonnes leading to a 40.6 per…<\/p>\n","protected":false},"author":1,"featured_media":22620,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-24787","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\n