Dangote Cement plc surpasses N1 trillion mark in revenue

Cement manufacturer, Dangote Cement Plc (DCP) recently declared in its audited financial statement for the financial year 2020,
The development is a record high revenue of N1.03 trillion, making it the second Nigerian listed entity after MTN to surpass the N1 trillion mark.
The cement behemoth’s revenue expanded by 16% year-on-year to N1.03 trillion, with about N720bn of the revenue generated from its operations in Nigeria, while its Pan-Africa operations generated about N320 bn revenue in 2020.
The strong top-line growth was supported by strong cement demand, driven by the strong appetite for real estate investment and the recovery of infrastructure spending – including more concrete roads.
It is gathered that sales volume for both cement and clinker products increased by 8.9%, driven by the resurgence in demand in the third quarter and fourth quarter of 2020.
Also, the company’s profit surged by 37.9% year-on-year to N276.1 bn.
It was also learnt that the cement company generated a net cash flow of N511.89 bn from its operating activities higher than 2019 figures (N426.12 bn). Nairametrics reports.