Dangote Cement Sales swell by 100 % in Q2

Via...Businessday, 08 August 2012 Dangote Cement Plc has announced an over 100 per cent upsurge in the sale of the locally produced product in the Q2 (second quarter) of the year as against the sales recorded in the (Q1) first quarter. A statement credited to the group said the increase indicates a sharp reduction in the importation of the commodity into the country. In its half year unaudited result released at the weekend, the company said its pre-tax profit, between January and June was N71.4 billion, a 22.8 per cent increase compared to the figure for the corresponding period  last year, while its revenue earnings grew by 26 per cent to N142 billion. The company said cement sales went up by 26 per cent to 5.2 metric tons with importation accounting for only one million tons out of the sales figure, adding that the figure was attributed to strong growth in revenue and profit, as local production doubles and new capacity ramps up to end imports.