Economy & Market
Dangote Q1's earnings up by 79.5 per cent
Dangote Cement announced its Q1 results for 2013 indicating a 79.5 per cent rise in its earnings per share over the corresponding period last year. The company's unaudited results for the three months ending 31st March, 2013 showed that the pre-tax profit also rose to 53.7 billion, an increase of 80.6 per cent, indicating good returns on investment for its shareholders. The results came on the heels of management's decision to automate its operations and processes to respond more rapidly to customers' needs. The consolidated group revenue in the financial highlights rose by 39.5 per cent to 95.4 bn, while gross profits rose by 64.7 per cent to 66 bn.