Dangote Cement Plc saw a marginal increase in its pre-tax profit in the first nine months of 2024 to N406.38 billion as high finance and production costs gulped revenues during the period.
This is according to the company’s unaudited financial statement for the period between January and September 2024 where revenues increased by 69.5% from N1.51 trillion in the first nine months of 2023 to N2.56 trillion in the period under review.
The company’s pretax profit in the period under review rose marginally by less than N2 billion to N406.38 billion from N404.89 billion in the corresponding period of 2023.
Key Highlights of the result
- Revenues- N2.56 trillion, +70%
- Production cost- N1.23 trillion, +91%
- Gross profit- N1.32 trillion, +52%
- Admin expenses- N145.6 billion, +97%
- Selling and distribution expenses- N464.7 billion, +84%
- Operating profit- N750.5 billion, +34%
- Finance cost- N451.21 billion, +137%
- Profit-Before-tax- N406.38 billion, +0.36%
- Tax expense- N127.29 billion, -0.039%
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