H1 2026: Dangote Cement declares 34% increase in profit before tax to N560.22bn
Dangote Cement Plc on Thursday announced its half year ended June 30, 2026 with profit before tax (PBT) that gained 34 per ent to N560.22 billion, supported by strong operating performance and significantly lower finance costs.
However, the benefit to earnings was moderated by a tax charge of N242.79 billion, translating to an effective tax rate of 43.3per cent, resulting in a more modest two per cent increase in profit after tax (PAT) to N317.44 billion.
The cement manufacturing company aggregate revenue increased by 22.2 per cent in Q2 2026 (H1 2026: +21.4per cent), driven by favourable pricing and volume dynamics, with average realised price rising by 11.9 per cent to N176,181.55/tonne (H1-26: +8.6 per cent y/y) and group sales volumes increasing by 9.9per cent y/y to 7.47 million tonnes (H1-26: +11.8per cent y/y).
On a quarter-on-quarter basis, revenue increased by 9.8per cent, reflecting stronger realised prices alongside sustained demand across its operating markets.
On a regional basis, Nigerian operations remained the primary growth driver, with revenue increasing by 26.9per cent and accounting for 69.2 per cent of group revenue (H1 2026: +25.1per cent).
The performance was supported by a 20.1per cent increase in average realised price to N196,803.71/tonne (H1 2026: +15.5per cent to N186,171.19/tonne), alongside a 5.2per cent increase in cement sales volumes to 4.79Mt (H1-26: +8.3per cent to 9.70Mt).
Similarly, Pan-African operations reported revenue growth of 12.8per cent, contributing 30.8per cent of group revenue (H12026: +13.7per cent).
Revenue growth was driven primarily by an 18.6per cent increase in cement sales volumes to 3.03Mt (H1 2026: +19.0% y/y to 5.95Mt), which more than offset a 4.9per cent decline in average realised price to N133,616.68/tonne (H1 2026: -4.5 per cent to N130,311.26/tonne). The strong volume performance was largely supported by robust demand across key markets, particularly Ethiopia, Senegal, and Tanzania.
