Dangote Cement records N158bn after tax profit in nine months
Toyota has returned to the top slot in global vehicle sales after releasing figures for the first nine months of the year.
The Japanese carmaker sold 7.5 million in the first three quarters of 2015, beating Volkswagen’s 7.43 million and General Motors’ 7.2 million.
After six months of the year,
Dangote Cement Plc has announced an impressive N157.993 billion profit after tax for its nine months’ result.
The company in condensed consolidated statement of profit or loss and other comprehensive income for the period ended 30th September, 2015 released to the Nigerian Stock Exchange (NSE) yesterday in Lagos showed that the profit for the nine-month period appreciated by 12.47 per cent. VW was ahead of Toyota, in pole position for the first time.
VW’s emissions scandal emerged towards the end of September.
The discovery of software that was able to mislead emissions tests on diesel cars may have more effect on VW’s sales in the remainder of the year.
Dangote Cement profit after tax for the period under review rose by N17.516 billion from N140.477 billion made during the nine months of 2014.
Its revenue surged from N310.214 billion in 2014’s nine months’ result to end 2015 nine months at N365.450 billion, representing N55.236 billion or 17.81 per cent.
It also recorded N123.235 billion during the last quarter compared to N101.305 billion it made in the same period of 2014.
The result indicated that
Toyota’s sales for the first nine months were 1.5% below the level at the same stage last year.
Toyota first overtook GM to take the top slot in 2008 and has kept it every year since, except 2011 when GM was the top seller after a tsunami in north-eastern Japan disrupted Toyota’s production. Dangote Cement made 43.23 per cent of its turnover as profit after taxation in the last nine months as against 45.28 per cent of its turnover that went to after tax.
Dangote Cement total assets moved up from N984.721 billion in nine months of 2014 to N1.097 trillion in nine months result of 2015.
Its earnings per share rose from N8.26 kobo in 2014’s nine months result to N9.80 kobo during the review period of 2015, indicating N1.54 kobo or 18.64 per cent.