Dangote Cement Plc has started 2026 on a strong note, reporting a profit before tax of N421.1 billion in the first quarter, according to its latest financial statement filed on the Nigerian Exchange. This marks a 35% year-on-year growth compared to N311.9 billion recorded in the same period last year, highlighting sustained momentum in Nigeria’s largest cement producer.
The performance was largely powered by a sharp rise in revenue, which climbed to N1.19 trillion from N994.6 billion in Q1 2025. Cement and clinker sales remained the backbone of the business, contributing virtually 100% of total revenue, underscoring the company’s continued reliance on its core product line and strong demand across markets.
Despite rising production and distribution costs, Dangote Cement maintained strong profitability. Gross profit rose to N749.3 billion, while operating profit climbed to N506.1 billion, supported by higher sales volumes of 7.4 million tonnes compared to 6.5 million tonnes last year. A notable drop in finance costs—from N129.3 billion to N98.2 billion—also helped strengthen the bottom line.
After accounting for taxes of N100.06 billion, the company recorded a net profit of N321.09 billion, with earnings per share improving to N19.14 from N12.29. On the balance sheet, retained earnings grew to N1.8 trillion, reflecting steady value creation for shareholders despite a relatively flat total asset base of N6.03 trillion.
Market sentiment is expected to respond positively as investors digest the results, especially given the stock’s strong performance year-to-date. Dangote Cement shares have already surged 59.28% in 2026, closing at N970 per unit, reinforcing investor confidence in the company’s growth trajectory and resilience in a competitive cement industry.
source: nairametrics