Dangote Cement Plc, BUA Cement Plc and Lafarge Africa Plc have reported total revenue of N1.183 trillion during the half year ending June 30, 2022, which represents a 23.25% growth over N959.84 billion reported in 2021 despite the high inflation environment and currency devaluation.
At the end of June 2022, the inflation rate increased to 18.60%, irrespective of the inflation rate, profit after tax of these companies stood at N270.88 billion from N263.345 billion in 2021 reflecting a 2.86% increase.
The cost of sales for the firms stood at N510.452 billion for the half year 2022 as against N439.247 billion in 2021, accounting for a growth of 16.2%.
The financial reports of these companies show they recorded about 14,206,000 tonnes of sales volume in H1 2022 compared to 15,277,000 tonnes reported in H1 2021, where Dangote Cement maintained the lead in revenue generation, followed by BUA Cement and Lafarge Africa Plc.
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