Advertisment
Wednesday, February 1, 2023
  • About Us
  • Contact Us
  • TNG Board
  • TNG Investigation
TheNewsGuru
  • News
    • Nigeria
    • World
  • Politics
  • Entertainment
  • Sports
    • Football
  • Business
  • Technology
  • TNG InvestigationsNew
No Result
View All Result
TheNewsGuru
  • News
    • Nigeria
    • World
  • Politics
  • Entertainment
  • Sports
    • Football
  • Business
  • Technology
  • TNG InvestigationsNew
No Result
View All Result
TheNewsGuru
No Result
View All Result

Home » Saudi Arbia » Dangote Cement revenue hits N615.1bn in 2016

Dangote Cement revenue hits N615.1bn in 2016

Femi Ajasa by Femi Ajasa
6 years ago
in News
Reading Time: 2 mins read
A A
0
Kano Ex-Speaker bribery allegation embarrassing: Aliko Dangote
271
SHARES
1.4k
VIEWS

Dangote Cement Plc has announced revenue of N615.1 billion for the financial year ended Dec. 31, 2016.

The News Agency of Nigeria (NAN) reports that this was against N491.7 billion recorded in 2015, indicating an increase of 25.1 per cent.

The report is contained in the company’s audited result released by the Nigerian Stock Exchange (NSE) on Tuesday in Lagos.

RecommendedReads

My man of the year will shock you - By Mideno Bayagbon

New Naira Notes: Who are the saboteurs: Bank MDs or CBN’s Emefiele? – By Mideno Bayagbon

6 mins ago
1.4k
For broadcasting, it’s the fire next time - By Okoh Aihe

Telecoms, a humble review of a minister’s Scorecard – By Okoh Aihe

9 mins ago
1.4k

The company’s profit before tax stood at N180. 93 billion as against N188.29 billion recorded in the preceding year.

A further breakdown of the company’s result indicated that the gross profit rose to N291.29 billion from N289.92 billion.

Non-current assets increased from N944.96 billion in the comparative period to N1.22 trillion, while total current assets surged to N303.16 billion from N165.98 in 2015 financial year bringing total assets to N1.53 trillion from N1.11 trillion achieved in the previous year.

The company’s board of directors recommended a dividend of N8.50 per share to all its shareholders against N8 paid in the comparative period of 2015, representing an increase of 6.25 per cent.

Commenting on the result, Mr Onne van der Weijde, the company’s Chief Executive Officer, said that Dangote Cement’s export sales transformed Nigeria into net exporter.

Weijde said that the company exported 0.4 million metric tonnes into neighbouring countries.

“It was a challenging year for many African economies but we achieved sales and revenue growth of 25 per cent and consolidated our position as Africa’s leading producer of cement.

“Sales from Nigerian operations increased by 13.8 per cent to nearly 15.1Mt, at a growth rate far higher than the country’s GDP, which fell in 2016.

“We exported nearly 0.4Mt into neighbouring countries and in doing so, we achieved a great milestone by transforming Nigeria into a net exporter of cement.

“This is a remarkable achievement, given that only five years ago, in 2011, Nigeria was one of the world’s largest importers, buying 5.1Mt of foreign cement at huge expense to our balance of payments.’’

Weijde stated that the company would increase its exports substantially in 2017.

He said that its Pan-African operations continued to perform well and sold nearly 8.6Mt of cement outside of Nigeria, which accounted for 54 per cent more than 2015.

According to him, the company will soon begin operations in Congo and Sierra Leone, widening its footprint to 10 countries.

“The New Year has started well and we expect much higher profitability in Nigeria this year, even though, we may not see the volume growth we achieved in 2016.

“I am confident that we will deliver an even stronger performance this year as we increase market share and extend our reach across Africa,” he said.

SendShare108Tweet68

Related Contents

Birthday party goes bloody as gunmen open fire, seven people dead
News

Birthday party goes bloody as gunmen open fire, seven people dead

3 hours ago
1.4k
Governor Tambuwal's aide, Maina dies during stampede at PDP's presidential rally in Sokoto
News

Governor Tambuwal’s aide, Maina dies during stampede at PDP’s presidential rally in Sokoto

4 hours ago
1.4k
Kwara ex-convict caught with charms, pistols at Kwara rally
Crime Watch

Kwara ex-convict caught with charms, pistols at APC rally

5 hours ago
1.4k
Load More

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending News

  • G-5 Gov Ikpeazu in dilemma over replacement of Prof Ikonne as Ayu must write INEC

    G-5 Gov Ikpeazu in dilemma over replacement of Prof Ikonne as Ayu must write INEC

    579 shares
    Share 232 Tweet 145
  • BREAKING: CBN extends use of old Naira notes

    560 shares
    Share 224 Tweet 140
  • 2023: U.S. announces visa ban on Nigerians

    530 shares
    Share 212 Tweet 133
  • UNCLAD: Veteran actor, RMD reacts to viral scene with Nancy Isime in ‘Shanty Town’

    560 shares
    Share 224 Tweet 140
  • BREAKING: Emir Sanusi is dead

    469 shares
    Share 188 Tweet 117
  • BREAKING: Tribunal sacks Adeleke as Osun governor

    437 shares
    Share 175 Tweet 109
  • Alleged defection to PDP: I can’t leave my home to bush – Senate Leader reacts

    435 shares
    Share 174 Tweet 109
My man of the year will shock you - By Mideno Bayagbon
Columnist

New Naira Notes: Who are the saboteurs: Bank MDs or CBN’s Emefiele? – By Mideno Bayagbon

by Peter Tuketu
6 mins ago
0
1.4k

Today we are going to just skirt around a kaleidoscope of issues, a kind of look at the major trending...

Read more
For broadcasting, it’s the fire next time - By Okoh Aihe

Telecoms, a humble review of a minister’s Scorecard – By Okoh Aihe

9 mins ago
1.4k
[Devotional] IN HIS PRESENCE: Take hold of the plumbline immediately

[Devotional] IN HIS PRESENCE: As it was in the beginning

17 mins ago
1.4k
Chelsea make Premier League record offer for Fernandez

Chelsea complete British-record transfer deal for Enzo Fernandez

47 mins ago
1.4k
Diallo magic sends Senegal into CHAN final

Diallo magic sends Senegal into CHAN final

59 mins ago
1.4k

News

Home Business

Archives

  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • October 2019
  • September 2019
  • July 2019
  • June 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • August 2018
  • July 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • February 2017
  • January 2017
  • December 2016
  • July 2013
  • About
  • About TNG
  • Account
  • AdPage
  • Advertise with us
  • ASUU
  • Breaking News, Politics, Entertainment, Gossip, Business and more – TheNewsGuru
  • Breaking News, Politics, Entertainment, Gossip, Business and more – TheNewsGuru – old
  • Breaking News, Politics, Entertainment, Gossip, Business and more – TheNewsGuru – old-old
  • Cart
  • Checkout
  • Contact Us
  • COVID-19 Live Update
  • Elections
  • EndSARS Report
  • Events
  • Explore
  • Home
  • Insurance
  • Latest
  • Login
  • Logout
  • My account
  • Password Reset
  • Popular
  • Post Packages
  • Register
  • Shop
  • TheNewsGuru – M
  • TNG Board
  • TNG Investigation
  • User

© 2022 Thenewsguru.com

No Result
View All Result
  • News
    • National
    • World
  • Columnist
  • TNG Investigations
  • Politics
  • Business
  • Entertainment
  • Tech

© 2022 Thenewsguru.com

targetBlank();
We use cookies to offer you a better browsing experience. If you continue to use this site, you consent to our use of cookies.
I Accept Cookies
We use cookies to offer you a better browsing experience. If you continue to use this site, you consent to our use of cookies.
I Accept Cookies