Dangote Cement released its first quarter results posting a huge 10.5% increase in profit over the Q1 of last year.
According to the unaudited results of their first three months ending 31st of March 2015, this N74.7B profit was mined from an equally massively grown gross sales figure of N114.7B ( a 10.8% increase on the corresponding period of 2014). Net profit and earnings per share also grew accordingly by 47.1% to N68.6B and by 45.7% to N4.09 respectively.
This heart warming results, according to Dangote's new CEO Mr Van Der Weijde, was buoyed in a large part, by contributions from their African invasion projects which has seen them open new factories in South Africa, Senegal And Cameroon, and continuing with more plants in Ethiopia and Zambia. Even though gross sales fell in Nigeria, a strong pricing regime adopted in December 2014 ensured that other important margins in their Nigerian operations grew and made its own contribution to the overall company growth.
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