Pursuits
Dangote Cement Sees 2016 Earnings Rising as Sales Increase
- First quarter 2016 cost of sales advanced by 56 percent
- Cement volumes increased 70 percent to 6.4 million tons
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Dangote Cement Plc, Africa’s largest producer of the building material, said it expects to increase earnings in 2016 as cement volumes rise, despite an economic downturn in its home market of Nigeria and pressures elsewhere on the continent.
Demand in the company’s home market of Nigeria should remain “robust” this year, following a price cut announced by Dangote in September and supported by government infrastructure development plans, the Lagos-based company said in a statement on Monday.