Dangote Cement Plc, has declared a profit after tax of N181.3 billion for the financial year ended Dec. 31, 2015. This was contained in the company’s audited result released by the Nigerian Stock Exchange (NSE) yesterday.
Reports show that revenue up by 25.6 per cent to 491.7 billion as new plants perform strongly across Africa. Earnings before interest, taxes, depreciation and amortization (EBITDA) up by 17.5 per cent to 262.4 billion at 53.4 per cent margin. This showed that all plants profitable across Africa. Also, earnings per share appreciated by 15.2 per cent to 10.86
Also, dividend went up by 33.3 per cent to 8 per share at 73.7 per cent payout ratio, cement volumes rose by 35 per cent to nearly 19 million tonnes, price reduction drives strong rebound in Nigerian market in the fourth quarter as volumes up 36 per cent and full-year volumes up 3.2 per cent despite severe economic challenges.
The chairman of Dangote Cement, Alhaji Aliko Dangote said, the company has achieved significant progress in becoming a truly pan-African manufacture and distributor of cement.
“We began the year with three factories in Nigeria, a small import operation in Ghana and several building sites across Sub-Saharan Africa. As a result of the sizable investments that we have made over the past few years, Dangote Cement ended the the year with new lines in Nigeria, factories becoming operations in Senegal and South Africa,” he said.
