Dangote Cement South Africa’s sales revenue rose by 3.7% year-on-year to US$200m in 2017 from US$192m in 2016. The subsidiary of Nigeria’s Dangote Cement attributed the result to increased demand and improvements in operational efficiency in the second half of the year. Its net profit fell by 16.2% to US$4.87m from US$5.81m due to one-off income from the closure agreement with Sinoma on the final handover of a new cement plant.
The cement producer added that the local cement industry increased its prices and ‘customer mix stability’ in 2017. Total estimated sales volumes including imports fell by 0.8% to 12.9Mt from 13Mt.
- Culled from GlobalCement.com