• Latest
  • Trending
Dangote Cement sustains N173.93bn tax for 2021

Dangote Cement sustains N173.93bn tax for 2021

11 months ago
JUST IN: Some elements in Aso Rock working against Tinubu’s victory – El-Rufai

JUST IN: Some elements in Aso Rock working against Tinubu’s victory – El-Rufai

2 hours ago
PERFORMANCE TRACK: Hon Akin Alabi empowers business owners with support fund

PERFORMANCE TRACK: Hon Akin Alabi gives medical support to constituents

2 hours ago
Chelsea sign Enzo Fernandez in British-record transfer deal

Chelsea sign Enzo Fernandez in British-record transfer deal

4 hours ago
Nigerians must help Buhari to save themselves, says Atiku

2023: Atiku confirms talks with Kwankwaso, Obi

4 hours ago
Osun 2022: Excuse our son from governorship election- Adeleke family

Tribunal judgement: Adeleke denies forging secondary school testimonial, certificate

5 hours ago
Osun 2022: Stop attacking Makinde, he has no anointed candidate –Rep

Igangan killings: Oyo APC accuses Makinde of moving with murderous characters, causing people tears

15 hours ago
APC suspends state congress in Oyo

Ex-convict arrested with guns, charms at Kwara APC rally

20 hours ago
VIDEO: Banks will accept old naira notes after deadline –Emefiele

VIDEO: Banks will accept old naira notes after deadline –Emefiele

20 hours ago
Bayern Munich forward, Sadio Mane returns to training

Bayern Munich forward, Sadio Mane returns to training

21 hours ago
INEC: Fuel scarcity may affect elections arrangements

INEC: Fuel scarcity may affect elections arrangements

22 hours ago
‘You have nothing to offer Nigerians’- Akwa Ibom gov knocks Tinubu over comment at Uyo rally

‘You have nothing to offer Nigerians’- Akwa Ibom gov knocks Tinubu over comment at Uyo rally

23 hours ago
Finally, Emefiele appears before House of Reps over new naira notes

Finally, Emefiele appears before House of Reps over new naira notes

24 hours ago
Transcorp boosts power generation with commissioning of rehabilitated GT Unit 20

Transcorp boosts power generation with commissioning of rehabilitated GT Unit 20

1 day ago
Nigeria becomes first African country to receive Elon Musk’s Starlink

Nigeria becomes first African country to receive Elon Musk’s Starlink

1 day ago
ISWAP distributes old naira notes to travellers on Borno highway

ISWAP distributes old naira notes to travellers on Borno highway

1 day ago
UNILORIN commences virtual lectures for large classes

UNILORIN commences virtual lectures for large classes

2 days ago
Sean Dyche replaces Frank Lampard as Everton manager

Sean Dyche replaces Frank Lampard as Everton manager

2 days ago
UBA appoints Ghanaian as CEO for Africa operations

UBA appoints Ghanaian as CEO for Africa operations

2 days ago
  • Contact Us
  • Advertise
Wednesday, February 1, 2023
Newspeakonline
  • Home
  • Politics
  • Business
  • Entertainment
  • Technology
  • World
    • Africa
    • Americas
    • Asia
    • Europe
  • Opinion
  • Interview
  • Newspeak ExclusivesNew
No Result
View All Result
  • Home
  • Politics
  • Business
  • Entertainment
  • Technology
  • World
    • Africa
    • Americas
    • Asia
    • Europe
  • Opinion
  • Interview
  • Newspeak ExclusivesNew
No Result
View All Result
Newspeak
UBA
Home Business

Dangote Cement sustains N173.93bn tax for 2021

Newspeak Reporter by Newspeak Reporter
March 3, 2022
in Business
Reading Time: 2 mins read
236 18
0
Dangote Cement sustains N173.93bn tax for 2021
Share on FacebookShare on TwitterShare on WhatsAppShare on Telegram

By Emmanuel Adeleke

RelatedPosts

Dangote Cement shareholders approve 10% share buy-back programme

FG orders immediate reopening of Dangote cement factory in Kogi

Dangote: Our acquisition of Obajana cement plant followed due process

Dangote Cement Plc has sustained its position as a leading contributor to Nigeria’s economy with a tax charge of N173.93 billion for the financial year ended 31st December 2021. According to the cement group’s audited results released on the portal of the Nigerian Exchange Ltd (NGX), the tax charge represents an increase of 78.7 per cent over N97.24 billion in 2020.

Analysis of the cement company’s financial result for the review year indicated that Group sales volume stood at 29.3Mt, with Nigeria accounting for 18.61Mt while operations in other countries did 10.86Mt. Group revenue was N1,383.6 billion for the full year, made up of N993.34 billion from Nigeria while revenue from across African plants was N397.32 billion, in contrast to the group revenue of N1,034.20 billion in 2020 which constituted of N719.95 billion from Nigeria and N318.68 billion from other African operations.

Dangote Cement recorded a gross profit of N538.37 billion and after-tax profit of N364.44 billion while earnings per share (EPS) rose to N21.24 from N16.14. The directors have proposed a dividend of ₦20.00 per share.

Speaking on the results, Chief Executive Officer, Dangote Cement Michel Puchercos said, “We are pleased to report a solid set of the results for the full year 2021. Group volumes for the year were up 13.8 percent and Group EBITDA was up 43.2 percent, to ₦684.6 billion at a 49.5 percent margin. I am delighted to report that Dangote Cement experienced its strongest year across all line items, with a record PAT of ₦364.4 billion up 32.0 percent.”

“Our business model remains robust, thanks to the prudent and flexible approach we have taken across our operations. Due to an increased focus on efficiency while meeting double-digit market growth and maintaining costs under control, Dangote Cement has and will consistently deliver superior profitability and returns to its shareholders,” he added.

Dangote Cement became the first Nigerian listed company to report its financial results using XBRL format with the IFRS taxonomy. Adopting XBRL reporting format will strongly benefit Dangote Cement’s existing and potential investors. It represents another step in continuing efforts to modernize and enhance transparency of, and access to, companies’ disclosures.

Dangote Cement has a long-term credit rating of AA+ by GCR and Aa2.ng by Moody’s due to its market leading position, significant operational scale and strong financial profile evidenced by the company’s robust operating and net profit margins relative to regional and global peers, adequate working capital, satisfactory cash flow and low leverage.

Dangote Cement is a subsidiary of Dangote Industries Limited, a diversified and fully integrated conglomerate as well as a leading brand across Africa in businesses such as cement, sugar, salt, beverages, and real estate, with new multi-billion-dollar projects underway in the oil and gas, petrochemical, fertiliser and agricultural sectors

Related

What’s your Reaction?
Like
Like
0
Dislike
Dislike
0
Laugh
Laugh
0
Angry
Angry
0
Sad
Sad
0
Accurate
Accurate
0
0 Shares
Facebook Twitter WhatsApp Linkedin Messenger
×

Share this post!

Facebook Twitter WhatsApp Linkedin Messenger Telegram Tumblr
Tags: 2021Dangote Cementtax

Recent Posts

VIDEO: Banks will accept old naira notes after deadline –Emefiele

VIDEO: Banks will accept old naira notes after deadline –Emefiele

January 31, 2023
Finally, Emefiele appears before House of Reps over new naira notes

Finally, Emefiele appears before House of Reps over new naira notes

January 31, 2023
UBA appoints Ghanaian as CEO for Africa operations

UBA appoints Ghanaian as CEO for Africa operations

January 30, 2023
NFIU: No going back on cash withdrawal limit

BREAKING: CBN extends deadline for old naira notes exchange till Feb 10

January 29, 2023
British airline enters administration, cancels all flights

British airline enters administration, cancels all flights

January 28, 2023
CBN deadline: First Bank opens Saturday, Sunday to receive old naira notes

CBN deadline: First Bank opens Saturday, Sunday to receive old naira notes

January 27, 2023
Dangote denies refinery commissioning rumour

Dangote denies refinery commissioning rumour

January 24, 2023
‘Situation under control’- NAHCO breaks silence on workers’ strike, flights disruption

‘Situation under control’- NAHCO breaks silence on workers’ strike, flights disruption

January 23, 2023
Next Post
Booklets scarcity: FG to roll out 10 passport processing centres

250,000 passports uncollected in Nigeria– Minister

Leave a Reply Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Newspeakonline

© 2020 Newspeak & Associates
Optimized by IChannelTech.

Navigate Site

  • Breaking News
  • Business
  • Entertainment
  • Interview
  • Newpeak Magazine
  • Newspeak Exclusives
  • Politics

Follow Us

No Result
View All Result
  • Home
  • Latest News
  • Politics
  • Business
  • Entertainment
  • Technology
  • World
  • Opinion
  • Interview
  • Newspeak Exclusives

© 2020 Newspeak & Associates
Optimized by IChannelTech.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Newspeak We would like to show you notifications for the latest news and updates.
Dismiss
Allow Notifications