Dangote Cement (DangCem) is the most valuable cement company and the second most valuable stock on the Nigerian Exchange (NGX) with a market capitalization of N4.17 trillion, twice the size of BUA Cement Plc and Lafarge Cement Plc combined.
The largest cement company in terms of production capacity of 51.6 million metric tonnes/pa compared to BUA Cement’s 11 million metric tonnes/pa and Lafarge Africa’s 10.5 million metric tonnes/pa, has recorded a 10% decrease in its half-year (H1) 2022 profit, due to higher foreign exchange pressures and energy costs incurred, which have become trending systematic risks.
The Industrial Goods Sector Company’s financial statement as released on the NGX shows that profit after tax dipped by 10.19% to N172.105 billion compared to N191.631 billion in HY 2021; revealing a dip in net profit margin by 23% to 21.31% from 28% in H1 2021.