Dangote’s first quarter and full-year advances, Nigeria

Dangote Cement Plc on Wednesday released its results for the first quarter and also its financial year ending December 2011 to the Nigerian Stock Exchang. The company said 1Q revenue grew by 17.6 per cent from NGN54.51bn (US345.6m) in 2011 to NGN64.11bn first quarter this year, while its revenue for full year 2011 stood at NGN235.91bn.

First quarter pretax profit rose by nine per cent to stand NGN30.32bn compared to NGN27.83bn recorded in first quarter of last year, while profit before tax for the full year ending December 2011 stood at N117.66bn.

Profit after tax grew at 10.7 per cent to stand at NGN30.33bn as against NGN27.39bn recorded last year in first quarter ending March, while profit after tax in the full year 2011 stood at NGN125.29bn.