Giant cement manufacturer, Dangote Cement has returned to profit by 3 percent for the full year ended 31st December 2016 at N186.6 billion from N181.3 billion.
The Group’s financial results released on the Nigerian Stock Exchange, Tuesday, revenue was 25.1 percent up from N491.7 billion to N615.1 billion in 2016, profit before tax fell by 3.9 percent to N180.9 billion from N188.3 billion in 2015 while earnings per share grew 4 percent to N11.34 from N10.86
The group’s shareholders’ funds stood at N797.3 billion from N644.7 billion, representing a growth of 24 percent.
Dangote cement board of directors therefore proposed a dividend of N8.50 kobo per share, amounting to N144.8 billion for approval by shareholders at the company’s next annual general meeting.
