In comparison to the same period in 2022, when revenues were N321.9 billion, the company reported a decline to N280.3 billion in the first three months of 2023. The cement giant’s quarter-over-quarter sales decrease is the first in five years, illustrative of the negative impact poor government policies can have on firms.
Amidst country-wide macroeconomic headwinds, Dangote Cement, Africa’s largest cement manufacturer, has reported its 2023 first-quarter results, which show a decline in volumes.
On the strength of expenditure on infrastructure and building, Dangote Cement has consistently produced revenue growth from quarter to quarter and year to year. Since 2019, the first quarter of each year has seen five straight quarters of sales growth for Dangote Cement.
