Dangote Cement 2013FY profits up 40 percent

..proposes N7 per share dividend

Dangote Cement Plc (DANGCEM) Nigeria’s largest company by market value and sub Sahara Africa biggest cement producer has just released its audited financial statement for year ended December 2013.

The results which were posted on the website of the Nigeria Stock Exchange (NSE) showed the company grew revenue by 29.4 percent year on year (y/y) to N386.17 billion in 2013FY from N298.45 billion in 2012FY.

Profit before tax (PBT) for the year ended December 2013 climbed by 40 percent y/y to N190.76 billion as against N135.64 billion in the same period of prior year (FY12).

The results also showed Profit after tax (PAT) increased by 38.73 percent y/y to N201.19 billion in FY:13 from N145.02 billion in FY:12.

The company is proposing a dividend per share of N7 to be paid to shareholders.