Mr. Cement, Michel Puchercos, CEO of Dangote Cement, has done it – Dangote Cement joins MTN Nigeria as two companies which have broken the N1 trillion revenue mark. This was how I introduced him when he joined Dangote Cement from Lafarge – “Dangote hired Michel Puchercos from Larfarge to keep in-house a man who seems to be the best talent in the cement industry in Nigeria. Michel had performed wonders in Lafarge, transforming the company in many ways, and positioning it to battle Dangote Cement….
“Find ways to build the best team: nothing else matters than having the right person to manage all your factors of production. This man is a real Mr. Cement and he is rocking it in Nigeria. Yes, in the Forum a few months ago, I noted how he grew profits 1,284% in Lafarge while reducing CEO compensation by 10%!”
Today, he has put Dangote Cement in the history books: “Total sales came to N1.034 trillion, N142.525 billion higher than the figure for the year before, the income statement of the cement-maker obtained by Premium Times showed.”
Nigeria’s biggest company Dangote Cement Plc Tuesday reported a 16 per cent surge in revenue for 2020, culminating in its biggest annual sales ever, Premium Times has the report.
Total sales came to N1.034 trillion, N142.525 billion higher than the figure for the year before, the income statement of the cement-maker obtained by Premium Times showed.
It is an astounding run in the face of the pandemic that has plummeted economies, limiting building and construction activities.
The group’s quarterly profit before tax (PBT) during the H1 2020, was N109.11 billion compared to the N42.19 billion reported at the same period the previous year. The quarterly revenue was N284.59 billion compared to the N212.06 billion reported the same period the previous year.
Click to join Tekedia Capital Syndicate and build Next Africa with a minimum of $10,000 co-investment in startups.