Dangote Cement reported considerable increases in revenue and net profit from January through September compared to the same period of last year even though it sold less cement and clinker as the company’s decision to hike product prices strengthened performance.
The company produced and sold lower volumes of the two products, its earnings report showed, but rode to record revenue and profit levels, leveraging an upward adjustment to the prices of cement, which its fiercest competitor BUA Cement slashed this month to expand market share.
Turnover at sub-Saharan Africa’s biggest cement producer advanced 28.7 per cent to N1.5 trillion, putting it just 6.4 per cent away from the sales figure for the whole of last year.
