Dangote Cement's Annual Profits rises to N278.1bn
- Wed Mar 24 2021
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Dangote Cement Plc announced a 37.7% increase in their profit after tax in their 2020 financial year.
The Africa’s largest cement producer, said its after-tax profit increased to N278.1bn last year from N200.52bn in 2019.
Michel Puchercos who is the Chief Executive Officer, said in a statement that despite the impact of the COVID-19 pandemic, 2020 was a record year for Dangote Cement across the board.
He said, “Several firsts made 2020 a productive year such as our maiden clinker shipment, maiden bond issuance and successful buyback programme.
“We increased our capacity by 3Mt in Nigeria, commissioned our two export terminals and commissioned our gas power plant in Tanzania
“All this was achieved whilst we focused on protecting our people, customers, and communities from the impact of the pandemic. Dangote Cement recorded strong top-line growth supported by strong cement demand.”