Dangote Cement Plc net profit has grown by less than 6.3% in the first half of 2024.
This was derived from its 2024 unaudited financial statement.
The revenue of the company rose by 85% to ₦1.76 trillion from N950.832 billion compared to same period in 2023.
However, the company’s cost of production increased in the period which causes an increase in the cement price with Nigeria’s damaging inflation condition.
Gross profit came at 63.29% to settle at ₦926.782 billion in the first six months of operation from ₦567.744 billion in the comparable period.
Details from the cement company’s financials revealed that production costs of sales accelerated by about 118% year on year to ₦833.273 billion in the first half of 2024, from ₦383.088 billion 12 months ago.
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