N1.61 Trillion yielded by Dangote Cement Between January to December 2022 in earnings which is N234.68 billion more than the N1.38 Trillion grossed same period in 2021
By Abdul Rahman Bangura-
NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- Income for the past year (2022) rose by 16.96% year on year while its net profit thrived 4.90%. The cement manufactory’s expense of production similarly soars during the assessment period, as Dangote Cement expended N662.89 billion to guarantee its products are accessible in the market.
However, it was huddled that the production expenditure boosted by 20.30% when correlated to the N551.01 billion spent in 2021, the financial statements exhibited. This implies, the cost of production rose rapidly than the popover of Dangote Cement within the early quarter and fourth quarters of 2022.
Furthermore, the revenue after tax fell behind the revenue and cost of production growth, as the manufacturer reported a 4.90% or N17.87 billion improvement year-on year.
Within the 12 months period of 2022, Dangote Cement’s lowermost streak was N382.31 billion, in unlikeness to the N364.43 billion reported as net profit a year previously.
For New Africa Business News (NABN) Abdul Rahman Bangura Reports, Africa Correspondent