Dangote Cement Reports N126.1bn Profit Despite Covid-19

Dangote cement reported after tax profits of N126.1 billion in the six months’ period ending June 2020, despite the economic slowdown from lockdowns due to the covid-19 pandemic.

Revenue from cement and other sales rose to N476.85 billion, while operating profits printed at N173.4 billion.

Earnings per share(EPS) rose to N7.45, compared to N7.01 in the 2019 period.

The stock of Africa’s largest cement maker closed trading at N134.20 per share on Friday, giving it a N2.27 trillion valuation.

Dangote Cement is Nigeria’s second largest listed firm.