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Tuesday, September 27, 2022

BREAKING: Dangote Cement Plc posts revenue of N1.38 trillion, six times higher than MTN’s record revenue

Africa number one, cement producer, Dangote Plc has released its 2021 FY results reporting a revenue of N1.38 trillion during the period, representing a 34% increase Y-o-Y.

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The company’s result is on the back of an inflationary year, as most businesses and their consumers have had to deal with the rising cost of goods and services.

A cursory view of the result reveals the company’s profit was driven by a significant rise in domestic and export sales in Nigeria, compared to domestic and export sales in Pan Africa.

Domestic sales in Nigeria for the period grew by 35%, generating N956 billion, while export sales raked in N36 billion, reflecting an improvement of 235% year on year, more than double its sales in 2020.

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