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Dangote Cement Q3 profit climbs 133.1% YOY

Dangote Cement Plc said its normalized net income for the third quarter was 2.33 nairas per share, an increase of 133.1% from 100 kobo per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 39.71 billion nairas, a gain of 133.1% from 17.04 billion nairas in the year-earlier period.

The normalized profit margin increased to 20.8% from 11.4% in the year-earlier period.

Total revenue grew 27.4% on an annual basis to 190.90 billion nairas from 149.90 billion nairas, and total operating expenses fell year over year to 121.41 billion nairas from 125.59 billion nairas.

Reported net income increased 50.4% year over year to 48.52 billion nairas, or 2.85 nairas per share, from 32.25 billion nairas, or 1.89 nairas per share.

As of Oct. 19, US$1 was equivalent to 359.50 nairas.