BY MICHAEL EBOH

Dangote Cement Plc has announced a profit after tax of N125.909 billion for its 2011 financial year. According to its audited results for the year ended, December 31, 2011 presented to the Nigerian Stock Exchange, NSE, the company’s after tax profit grew by 0.34 per cent to N125.91 billion from N125.478 billion in its 2010 financial year.

To this end, the company is distributing N19.37 billion as dividends to its shareholders, representing a dividend per share of 125 kobo.

The company is also declaring a bonus issue of one ordinary share for every ten ordinary shares previously held by the shareholders.

The company said all its performance indices recorded a upward trend, as it recorded a turnover of N235.70 billion compared to N202.57 billion indicating a 16 percent growth while gross profit rose to N139.08 billion in contrast to N121.28 billion representing a 14.69 percent increase.

Alhaji Aliko Dangote, President, Dangote Group, assured shareholders of good returns on their investments, stating that the significant contributions of the new line in Obajana and commissioning of the six million metric tons Ibese Cement plant this year, will positively affect the company’s turnover and ultimately returns on shareholders investments.

In the 2010 financial year, DCP posted a turnover of N202.565 billion, as against N189.6 billion recorded for the preceding year.

While the company’s profit before tax rose by 58.9 per cent to N101.33 billion from the preceding year’s N63.8 billion, profit after tax increased by 73.7 per cent to N106.6 billion from N61.4 billion in 2009.