Africa’s largest cement producer, Dangote Cement Plc has announced a Profit Before Tax (PBT) of N162.90 billion for the six months ended June 30, 2020 even as two block makers have emerged winners in its ongoing Spell and Win a million national consumer promo.
According to the unaudited results of the company released on the floor of the Nigerian Stock Exchange (NSE), the declared profit was 4.7 per cent higher than N155.49 billion in the corresponding period of 2019.
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The Group revenue grew to N476.9 billion, Group Earnings before interest, taxes, depreciation, and amortization (EBITDA) was N218.1 billion representing a 45.7 per cent margin while Pan-Africa EBITDA was up by 31.6 per cent to N31.5 billion; a margin of 21.7 per cent.
Speaking on the results, Group Managing Director, Dangote Cement, Michel Puchercos, said: “I am humbled by the fact that we continue to be in a strong position despite the economic downturn that the world is facing due to COVID-19.
“Although April was greatly impacted by lockdowns and restrictions across our operations, we experienced a strong quarter. We achieved a record high volume and EBITDA margin in Pan-Africa of 4.7Mt and 21.7 per cent respectively. Group EBITDA was up slightly despite the impact of COVID-19”, he added.
On the company’s measures against the COVID-19 pandemic, Puchercos said, “We are committed to protecting our team members and communities by being fully compliant with health and safety measures.”
Barely a week after its launch, two block makers from Lagos and Oyo States have become first star prize winners of N1 million each in the ongoing Dangote Cement Bag of Goodies Season 2 Consumer Promo.
The promo, which the management said was partly to reward loyal customers and ameliorate the impact of COVID-19 pandemic on consumers, offered the winners cash prizes apart from other commercial and household items, and it is expected to run from July 15 to November 15, 2020.
The two winners are a block maker based in Lanlate, in Ibarapa East local government area of Oyo State, Ojediran Kayode Stephen, who emerged the first N1 million winner in the “Spell Dangote and be a millionaire” promo.
Another lucky winner, the Managing Director of Afolabi Adefila Block Industry, said that he had been a user of Dangote Cement since the inception of his business, which he started several years ago.
