Nigeria: Dangote Cement increased its sales by 17% year-on-year to US$1.9bn in the first half of 2022 from US$1.63bn in the first half of 2021. The group increased its cement sales volumes by 26% to 15.Mt, including a 33% increase in Nigeria to 9.9Mt there. Its production costs rose by 17% to US$760m from US$651m. This resulted in a 10% profit drop to US$406m from US$452m.
Chief executive officer Michel Puchercos noted a ‘very volatile’ global environment and increased energy costs. He said “Our business model remains robust, thanks to the prudent and flexible approach we have taken across our operations. Our continuous focus on efficiency, meeting market demand and maintaining our costs leadership drives our ability to consistently deliver superior profitability and value to all shareholders.”
