The half-year result for Dangote Cement indicates an increase in revenue from Pan-African operations by 139.9 per cent.
The company in a statement on Monday, said its revenue grew to N807.1 billion as against N336.4 billion reported in the corresponding period of 2023.
The cement plant also reported a 10.9 per cent increase in the Nigerian market which rose from 8.0Mt to 9.0Mt in the half year ended June 30, 2024.
Half year results of the company for 2024 also showed that group volumes rose by 3.8 per cent to 13.9Mt, while group revenue was up by 85 per cent to N1,760 billion compared to N950 billion at the corresponding period in 2023, driven by 60 per cent growth in Nigeria which rose to N991 billion from N618 billion.
It said it had, in furtherance of efforts to promote a cleaner environment, commissioned 11 of the 17 Alternative Fuel Projects across the Group and also took delivery of 300 full CNG trucks for its Nigerian business.
It further noted that it achieved a thermal substitution rate estimated at 10.5 per cent for H1 2024 compared to 7.8 per cent in H1 2023.
The statement quoted Chief Executive Officer, Dangote Cement, Arvind Pathak, to have in his remarks, expressed happiness with the result which was achieved in spite macroeconomic headwinds in the review period.
