The recent expansion drive by the cement giant, Dangote Cement, across Africa, seems to have paid off.
Company records growth as a result of multi-national expansion
The cement giant also announced a gross profit of N74.7bn for the first quarter of 2015, which is a clear indication of an increase of 10.5% over the N67.63bn it reported in the same period of 2014.
Evident, is the unaudited results for the first quarter that ended March 31, 2015, which shows that most of its revenue came from non-Nigerian factories.
The report states that revenues rose by 10.8% to N114.7bn from N103.57bn in the first quarter of 2014.
During the official presentation of the unaudited report to the press, the Chief Executive Officer, Dangote Cement, Mr. Onne van der Weijde said “Our African projects are now beginning to deliver revenue growth for the Group and even at this early stage we are seeing good potential in all the countries into which we are expanding. Senegal has made an excellent start, Cameroon is poised for a strong entry into an exciting growth market and Sephaku Cement is clearly shaking up the South African market as the first new entrant in many years.”
He was quick to add that sales figures dropped in Nigeria in December.
Dangote cement is currently embarking on an strategic expansion drive to16 African countries.
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