Breaking News

Dangote Cement, Lafarge Post N1.67trn Revenue

Ololade Omosan-Agie

Two big players in the Nigerian cement industry, Dangote Cement Plc and Lafarge Africa Plc posted a combined revenue of N1.67trn in the full year of 2021.

The companies disclosed the figures in their full audited financial statement seen by THE WHISTLER.

Dangote’s revenue hit an all-time high of N1.38trn, up by N349.4bn from the N1.03trn recorded in 2020.

In the last five years, the company’s turnover was N1.38trn, N1.034trn,  N891.7bn,  N901.2bn and N805.6bn in 2021, 2020, 2019, 2018 and 2017 respectively.

Dangote Cement’s profit also surged by N88.3bn from N276bn in 2020 to N364,43bn in 2021.

Lafarge revealed in its records that revenue rose from N230.57bn in 2020 to N293.1bn by the end of 2021.

According to the cement manufacturer, the company’s full year profit rose to N51bn from N30.84bn recorded in 2020.

According to Khaled El Dokani, Chief Executive Officer of Lafarge Africa, the success recorded reflects the rise in demand in the industry.

He said, “Our 2021 performance showed significant improvement, with net sales of 27.1%, recurring EBIT of 42.6 per cent and net income of 65.4 per cent, compared to FY 2020 results.

“We are equally pleased with the progress we are making on sustainability; our use of affordable clean energy and agro-ecology footprint are in accordance with our net zero pledge journey.”

The company also projected that there will be strong “demand momentum in 2022.”

About Editor

Check Also

Fuel Subsidy Removal: Tinubu meet Emiefele and Kyari

President Bola Tinubu on Tuesday met behind closed doors with the Governor of the Central …

Leave a Reply