Reasons Why Dangote Cement Hit 26.1% Increase In Sales

Strategies adopted by Dangote Cement to increase sales and ensure an adequate supply of products to customers are yielding the desired results as domestic sales volume increased, by 26.1 percent  to 4.6 metric tons (Mt) in the first quarter of 2024.   

According to the cement manufacturer’s unaudited results for the three months that ended, on April 30, 2024, the Nigerian operations volume rose  significantly and positively affected the rise in the Group’s overall volume to 7.0   Mt.

The company recorded Group revenue of N817.4 billion, even as profit after tax inched, up by 2.9 percent to N112.7 billion. Earnings per share closed the quarter at N6.68 representing an increase of 3.7 percent. As part of its sustainability programme, Dangote Cement commissioned ten of the 17 Alternative Fuel Projects across the Group.  

Chief Executive Officer, of Dangote Cement, Arvind Pathak, in his comments on the results, said, “Driven by an uptick in economic activities, our Nigerian operations witnessed a strong rebound, with volumes up 26.1 percent to 4.6Mt in the quarter. Similarly, our pan-Africa operations continued an upward trajectory, with volumes up 3.1 percent to 2.7Mt, buoyed by increased sales in Zambia and Congo. Despite elevated cost pressures, increased borrowing costs, and a further currency weakening; our first-quarter results reflect our commitment to navigating challenges effectively.”