In the first half of this year, three of the largest cement manufacturers in Nigeria saw their combined profit before tax jump by 61.90 percent.
This is according to an analysis of their unaudited financial statements.
Dangote Cement Plc, BUA Cement Plc and Lafarge Africa Plc posted a total pre-tax profit of N237.60billion in H1 2021.
This is up from N146.76billion in H1 2020.
Dangote Cement, which released its unaudited results, grew its profit before tax by 102.30 percent year-on-year to N151.15bn from N74.79bn in H1 2020.
It reported revenue of N690.55bn in H1 2021, up 44.81 percent from N476.85bn in the corresponding period of 2020.
Lafarge Africa’s profit before tax increased by 27.29 per cent year-on-year to N36.75bn in H1 2021.
BUA Cement grew its profit before tax to N49.70bn, representing an increase of 24.27 per cent. Its revenue increased by 22.73 per cent from N101.26bn in H1 2020 half-year to N124.28bn in H1 2021.