Dangote Cement’s 9-Month Profit Rises 23% on Expansion
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Dangote Cement Plc, Africa’s biggest producer of the building material, posted a 23 percent increase in nine-month profit as cement sales rose.
Net income in the nine months to Sept. 30 rose to 92.8 billion naira ($589 million), or 7.97 naira per share, from 75.3 billion naira, or 5 naira a share, a year earlier, the Lagos-based company said in an e-mailed statement today. Revenue climbed 19 percent to 173.8 billion naira as cement sales advanced 9.2 percent to 6.4 million metric tons, it said.