With the completion of its expansion exercises at its Ibese , Obajana and Gboko cement plants, worth 13, 12 and four metric tonnes respectively, Dangote Cement Plc has successfully revamped installation capacity increase in the country presently to 29.2 million metric tonnes against 2013 figure of 20 metric tonnes representing Obajana, Ibese and Gboko of 10.25, five and four metric tonnes respectively which was ramped throughout the year.
Presenting the company’s Fact Behind Figure presentation in Lagos , the Group Managing Director, Dangote Cement plc, Devakumar Edwin said the company was set to reward handsomely investment made into the firm, following improved performance the firm recorded in the six months to June 30.
Revenue, he said grew by 5.3 per cent to N208.9 billion from N198.5 billion in the corresponding half-year period of 2013.
Profit before tax declined by 0.6 per cent, from N107.7 billion in H1’13 to N107 billion in H1’14.
Edwin attributed this to production constrained by disruption to gas supply. Its gross profit rose by 1.1 per cent from N132.1 billion in H1’13 to N133.5 billion in H1’14.
Among other plans as contained in angote Cement Plc’s outlook for 2014, was investment of $300million in additional coal facilities across all plants.
He noted that the price of the commodity is expected to drop further by at least N100 for the 42.5 grade of cement and N300 for the 32.5 grade, which would be launched next week.
According to him, the move to expand its product offering in the cement market is in compliance with the cement reclassification directive and regulation on use of the commodity by the Standards
Organization of Nigeria (SON).
Specifically, Edwin stated that the price of the 32.5 cement grade, would sell for N200 lower than the price of the higher strength 42.5.