Dangote Cement Plc., Africa’s largest cement producer, converted lower financing costs into a powerful earnings boost in the first half of 2026, posting profit growth that outpaced sales despite continued pressure from fuel, power and haulage expenses.
The company’s unaudited financial statements filed with the Nigerian Exchange Limited (NGX) showed that profit before tax rose 34.43 per cent to N981.39 billion for the six months ended June 30, 2026, while net profit climbed 22.69 per cent to N638.53 billion, supported by robust domestic demand and easing foreign exchange-related financing costs.
The stronger bottom-line performance came as net finance costs almost halved to N112.11 billion, down from N216.16 billion in the corresponding period of 2025, reflecting lower foreign exchange losses and reduced interest expenses. The improvement amplified gains from higher sales across Nigeria and the company’s Pan-African operations.
Group revenue rose 21.35 per cent year-on-year to N2.514 trillion, compared with N2.072 trillion recorded in the first half of 2025, as sustained demand and operational efficiency continued to underpin growth across its markets.
Nigeria remained the company’s earnings engine, with domestic revenue increasing 25.17 per cent to N1.805 trillion from N1.442 trillion a year earlier. Local operations accounted for 9.70 million metric tonnes of the group’s total cement sales of 14.94 million metric tonnes, generating N1.086 trillion in earnings before interest, taxes, depreciation and amortisation (EBITDA).
Outside Nigeria, Dangote Cement’s Pan-African business maintained steady growth, posting revenue of N775.35 billion, a 13.67 per cent increase over the prior year, while contributing N136.57 billion to group EBITDA.
The strong top-line performance translated…
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