Business DANGOTE STRENGTHENS EXPORT TERMINALS

DANGOTE STRENGTHENS EXPORT TERMINALS

-

- Advertisment -
DANGOTE STRENGTHENS EXPORT TERMINALS

DANGOTE STRENGTHENS EXPORT TERMINALS

 

 

 

 

 

Dangote Cement Plc   will soon boost its export sales as it prepares to inaugurate its Apapa, Lagos, export terminal. This will be followed by Onne, Rivers State, export terminal.  The company disclosed  this while commenting on its future plans following the release of its 2019 financial results.

Dangote Cement Plc commended the  decision of the federal government to close  land borders, saying it is  good for the economic growth and should be supported.

According to the company,  the preparing to export products by sea in large volume affords it the flexibility to export cement and clinker. The company has spent over $95 million to put the export terminals ready for operations.

Speaking on the result, outgoing Group Chief Executive Officer, Dangote Cement, Joe Makoju, said: “Dangote Cement maintained strong financial performance despite a low growth environment, pricing pressure and increasing competition in key markets.  The Nigerian operations maintained volume and revenue performance in a challenging environment. Looking ahead, I expect an increase in volumes in 2020 as we commence clinker exports via shipping from Nigeria.  Pan-Africa volumes were slightly up notably supported by Tanzania and Senegal. I am glad to report that Tanzania contributed positively at earning before tax, depreciation and amortisation (EBITDA level. In 2020, I believe Dangote Cement will see an increase in profitability in Pan-Africa driven by higher volumes and further efficiency improvements.

Dangote Cement Plc recorded a revenue of N891.671 billion in 2019, a profit after tax of N200.5 billion and recommended a final dividend of N16 per share.

Analysts  at CSL Stockbrokers Limited has predicted that the cement stock will soon hit N224 per share up from the trading price of N170. They   are recommending a buy option for the stock.

DANGOTE STRENGTHENS EXPORT TERMINALS
DANGOTE STRENGTHENS EXPORT TERMINALS
Parrot Nigeria
An online news aggregator

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

US Rapper Fred The Godson tests positive to coronavirus

            American rapper, Fred The Godson has tested positive for the dreaded coronavirus as the pandemic continues to spread across...

IPMAN, others back removal of fuel subsidy

                The Independent Petroleum Marketers Association of Nigeria (IPMAN) and some other stakeholders have supported the removal of fuel subsidy. According...

JUST IN: Wamakko is Dead, President Buhari mourns

President Muhammadu Buhari has expressed profound grief over the death of Dangaladiman Wamakko, the younger brother of Senator Aliyu...

U.S. firm Inovio begins trial of potential coronavirus vaccine

                A second U.S. company, Inovio Pharmaceuticals, has begun safety tests for a vaccine against coronavirus and COVID-19, the disease...

Coronavirus: WhatsApp limits message-forwarding to tackle fake news

            WhatsApp has announced it is imposing a strict new limit on message forwarding to slow the dissemination of fake...

Coronavirus: New York City turns world’s largest Cathedral into hospital

          New York City, under pressure with coronavirus cases, is planning to construct another temporary hospital in the Cathedral Church...

TRENDING

BREAKING: Court sentences Funke Akindele, husband to 14-day community service

        A Magistrate court sitting in Lagos on Monday sentenced...

BREAKING: Funke Akindele pleads guilty for breaching lockdown rules

            Actress Funke Akindele and her husband, Rasheed Bello pleaded...
- Advertisement -

You might also likeRELATED
Recommended to you