Dangote Cement has announced a 44.6 per cent increase in its Profit After Tax of N193.14 billion in the nine-month period ended 30th September 2017.
The company’s results released on the floor of the Nigerian Stock Exchange (NSE) on Thursday, October 19 revealed that Revenue increased 36.5 percent to close at N603.6 billion and Profit before tax appreciated 48.1 per cent in the review period to settle at N220.2 billion.
DCP grew earnings per share by 39 per cent to N11.30 and Net Assets improved 8.3 per cent to N863.9 billion.
In other development, the cement manufacturer, has announced that Onne Verde will step down from his position as the Chief Executive Officer (CEO) of the company by the end of the 2017 financial year.
This was disclosed by the company’s board of Directors in a regulatory filing with the Nigerian Stock Exchange on Thursday.
According to the statement, Mr. Onne Van de Weijde, having completed three years in this position, will return to his home country, The Netherlands, and will be appointed as a Non-Executive Director of Dangote Cement PLC, with effect from 1st January 2018.
The Board while expressing appreciation to Mr. Onne Van de Weijde for his contribution during his period as CEO announced his replacement as Eng. J. O. Makoju, Honorary Adviser to the Chairman and former MD of WAPCO/Lafarge, to be in acting capacity until a successor is appointed.