Nigeria: Dangote Cement has reported that its profit rose by 14% year-on-year to US$910m in 2015 from US$801m. Its revenue rose by 26% to US$2.47bn from US$1.97bn. No comment on the results was given in the financial statements released to the Nigerian Stock Exchange.
Cement production volumes for the group rose by 35% to 18.9Mt in 2015 from 14Mt in 2014. Cement production capacity rose by 87% to 42.6Mt/yr from 22.8Mt/yr.
By business region, sale revenue in Nigeria rose by 5% to US$1.95bn from US$1.86bn. Sales revenue in West & Central Africa rose by over five times to US$212m from US$31m. Sales revenue in South & East Africa rose by over three times to US$307m from US$69.8m.
The statement also reported that Dangote Group set up a 100% owned subsidiary for cement production in Nepal and two 90% owned subsidiaries for cement production in Zimbabwe in 2015.