Dangote Cement Plc reported a 31.2 per cent increase in net profit for the first nine months of the year, driven by higher sales volumes and lower financing costs.
Sub-Saharan Africa’s largest cement producer said profit after tax reached ₦974.8 billion ($714 million) for the period ended September 30, up from ₦743.3 billion a year earlier. Revenue climbed 19.6 per cent to ₦3.8 trillion, supported by strong demand across Nigerian and regional markets.
Growth accelerated sharply in the third quarter, with net income surging 51 per cent year-on-year to ₦336.3 billion.
The company’s earnings before interest, tax, depreciation and amortisation (EBITDA) rose to ₦1.8 trillion from ₦1.4 trillion. Profit before tax advanced 41.5 per cent to ₦1.5 trillion.
A key driver of the bottom-line growth was a reduction in financing expenses. Dangote Cement cut finance costs to ₦120.8 billion down from ₦286 billion, easing pressure from interest payments that weighed heavily on previous financial years.
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