Dangote Cement releases 2018 financial results, proposes N16 dividend

Dangote Cement Plc has released its full year audited results for the year ended 31 December 2018,  recording a 91 percent increase in profitability and proposing a N16 dividend to investors.

On the back drop of increased infrastructural development in a pre-election year, the company reported a revenue growth of 12 percent representing N901.2 billion for the period ended December 2018 compared to N805.5 billion reported for the period ended December 2017.

Profit before tax was N300.8 billion, a 3.9 percent increase from N289.59 billion reported for the period ended December 2017.

The company’s profit after tax for the half year ended 31st December 2018 was N390.3 billion as against N204.2 billion recorded in FY 2017, representing a 91.1 percent increase in the comparative period in 2017.

Dangote Cement Plc reported earnings per share of N22.83 for the period ended December 2018 compared to  N11.65 reported for the comparative period in 2017.

An analysis of the balance sheet showed that while the total assets stood at N1.694 trillion against N1.666 trillion, the total liabilities reduced to N707.9 billion from N781.4 billion.

Thus improving net assets by 26 percent to N986.6 billion in December 2018 from N781.2 billion recorded a year ago.

Dangote Cement however closed Wednesday’s trading session on the floor of the Nigerian Stock Exchange (NSE) flat at N192.50.