Dangote Cement Proclaims N553.10bn Revenue

Dangote Cement Proclaims N553.10bn Revenue

Dangote Cement Plc has introduced has a revenue earlier than tax of N553.10billion in monetary yr ended December 31, 2023, representing a rise of almost six per cent from the N524 billion reported in 2022 monetary yr.

The cement manufacturing firm additionally declared N445.58 billion revenue after tax, as in opposition to N382.31 billion recorded in 2022.

Dangote Cement introduced a income of N2.21 trillion, a rise of 36.44 per cent from N1.62 trillion reported in 2022.

In keeping with the promise of Chairman, Dangote Cement, Aliko Dangote of an enhanced return on Investments to all shareholders and different stakeholders in Dangote Cement, the corporate’s Administration for 2023, has proposed a rise within the dividend payout to the shareholders, by 50 per cent, to N30 per share from N20 per share paid to shareholders in 2022.

The proposed enhance in dividend is topic to ratification by the shareholders on the forthcoming, AGM. Proposing a dividend of N30 per share at a interval when many companies are declaring losses is a sign of the resilience of Dangote Cement and the prospects it holds for traders.

Dangote Cement is garnering extra market share throughout the continent with pan-Africa volumes going up by 12.7 % to 11.3Mt.

Group Managing Director, Dangote Cement, Arvind Pathak talking on the outcomes stated “This constructive full-year consequence is a mixture of the energy within the variety of our operations throughout Africa and our sustained drive to include price amidst an accelerating inflationary atmosphere.

“The Group achieved double-digit progress in income at N2,208.1 billion, whereas Group EBITDA reached a document excessive, growing 25.1 per cent to N886.0 billion.

Regardless of the difficult macroeconomic circumstances, 2023 was yet one more testomony to the effectiveness of our diversification technique. Our numerous operations acted as a cushion, offering resilience to country-specific dangers. Pan-African volumes had been up 12.7 per cent and now account for 41.2 % of Group quantity. Consequently, pan-African income elevated by a document 123.2 % to N925.9 billion, whereas EBITDA surged by over four-fold to N263.7 billion.”