Dan­gote Ce­ment records N158bn af­ter tax profit in nine months

Daily Trust - - BUSINESS - From Kay­ode Ogun­wale, Lagos

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.

Aliko Dan­gote

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