Dangote’s Cement nets N1.61tn

Dangote Cement has reported that its revenue for the year ended 2022 rose by 16.96 percent year-on-year, while its net profit grew 4.90 percent.Information Guide Nigeria

Dangote Cement’s Consolidated and Separate Statements for the year ended December 2022.

Between January to December 2022, Dangote Cement owned by billionaire, Aliko Dangote generated N1.61 trillion in revenue.

RIPPLES NIGERIA reports that amount generated is N234.68 billion more than the N1.38 trillion grossed same period in 2021.NYSC portal

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The cost of production also shoots up during the review period, as Dangote Cement spent N662.89 billion to ensure its products are available in the market.

According to RIPPLES NIGERIA, expense increased by 20.30 per cent when compared to the N551.01 billion spent in 2021, the financial statements showed.

This indicates that the cost of production grew faster than the turnover of Dangote Cement within the first quarter and fourth quarter of last year.

In 2022, Dangote Cement’s bottom line was N382.31 billion. This is in contrast to the N364.43 billion reported as net profit a year before.JAMB Result

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