Dangote Cement Plc posts a N1.38 trillion revenue, six times higher than MTN’s record revenue

Dangote Cement Plc posts a N1.38 trillion revenue, six times higher than MTN's record revenue

A report from Dangote Cement Plc reveals revenue of N1.38 trillion for the 2021 fiscal year, representing an increase of 34% compared to the previous year. This is more than six times what MTN generated.

As businesses and consumers have had to deal with the rising price of goods and services, the company’s results reflect an inflationary year.

A cursory view of the result reveals the company’s profit was driven by a significant rise in domestic and export sales in Nigeria, compared to domestic and export sales in Pan Africa.

Domestic sales in Nigeria for the period grew by 35%, generating N956 billion, while export sales raked in N36 billion, reflecting an improvement of 235% year on year, more than double its sales in 2020.

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