Abuja - Dangote Cement has disclosed it sold 13,3 million tonnes of cement in 2013.
Addressing shareholders in Lagos, founder Aliko Dangote said the number represented a 28 percent increase in the company's performance compared to the preceding year.
Dangote also disclosed a 133 percent increase in share value of the company to N7 per share.
He expressed optimism that the current year would offer better returns because trading had remained robust in the country and the company has started witnessing solid start to the year with demand up in all regions.
Disclosing his company's expansion effort in other parts of Africa, Dangote said, "In Ethiopia, work is well underway, to build 2.5m mtpa plant at Mugher with production expected late in 2014. In Tanzania, we have begun work on a 3m mtpa plant at Mtwara and would be fully operational in 2015. In Zambia, work is underway on a 1.5m mtpa at Ndola with cement production expected in second half of 2014.
“We are reviewing plans for Kenya with a view to increasing the scale of our proposed factory from 1.5 to 3.0m tpa, because we are confident there will be sufficient demand both in Kenya and neighbouring countries.”
Dangote debunked claims of price increase saying that his company had rather intensified direct-to-consumer deliveries as a means of stabilising the price of cement in the country.
Group Managing Director of Dangote Cement DVG Edwin attributed the impressive results of the company to focused and strategic management.
“We increased our margins despite continuing disruption to our gas supply and believe that the gas distribution infrastructure will be more robust in 2014, enabling us to improve our margins even further," he said.
- CAJ News
For the latest on national news, politics, sport, entertainment and more follow us on Twitter and like our Facebook page.