Aug 2 (Lagos) - Dangote Cement Plc reported very positive financial results for half year 2012. Top line revenue increased by 25% to N 142 billion in the period up from N 112.73 billion in the same period of 2011.
Further postive was that cost of goods sold increased by only 6.9% to N 55.89 billion in the six months. But selling and distribution expenses increase sharply to N 2.68 billion from under N 500 million in last year first half, altough by the end of year the figure had increased to N 15 billion.
Admin expenses increased sharply to N 12.05 billion. Cost of financing increased to N 6.24 billion in the half year up from N 393 million last year same period.Profit before tax increased to N 71 billion up from N 58 billion last year same period.
Profit after tax increased to N 71.36 billion in the first half of 2012 up from N 57.26 billion in the same period of 2011.
These are very positive results from DANGCEM because in 2011, company reported revenue of N 235 billion only 65% more than the revenue of first half of this year. Therefore the revenue for the full year could be much higher still.
Similarly for 2011, DANGCEM reported Profit before Tax of N 118.28 billion, which is only 40% more than the profit before tax of the first six months of this year. Shareholders of DANGCEM can expect a mugh higher dividend payout that the 1.25 for 2011, although the company also gave a bonus issue of 1 for 10 shares held.
reporting for easykobo.com on Thursday, August 2 2012 from Lagos, Nigeria