Dangote Cement Plc reported a pre-tax profit of N1.47 trillion for the nine months ended September 30, 2026, up 41.5% from N1.04 trillion a year earlier. Profit after tax rose 31.2% to N974.79 billion, with earnings per share at N58.37, up from N43.82.
This is according to the company’s unaudited third-quarter financial statements filed with the Nigerian Exchange (NGX) on Tuesday, October 27.
The pre-tax profit grew faster than revenue, which rose 19.6% to N3.77 trillion, and faster than operating profit, which rose 27.8% to N1.57 trillion, because finance costs fell sharply.
Pre-tax margin widened to about 39.0% from 33.0% as gross margin improved to about 63.2% from 59.2%.
This more than offset net foreign exchange losses, which rose to N40.77 billion from N1.13 billion.
Comparing the nine-month results with the first-half figures suggests that third-quarter pre-tax profit was about N491.11 billion.
The lower costs may partly reflect a smaller net foreign exchange loss. The loss for the nine months was N40.77 billion, compared with N45.03 billion in the first half
Income tax rose 67.2% to N497.71 billion, lifting the effective tax rate to about 33.8% from 28.6%, which is why after-tax profit grew 31.2% against 41.5% for pre-tax profit. The company notes the interim rate is an estimate of the annual weighted rate.
Haulage costs rose 23.5% to N489.29 billion and make up almost four-fifths of selling and distribution costs of N618.87 billion, which rose 23.6%.
The group moved from net debt of about N310 billion at the start of the period to net cash of about N115 billion.
The group also booked a N160.44 billion loss on translating foreign operations, against a gain of N7.91 billion, so total comprehensive income rose only to N814.36 billion from N751.17 billion.
Dangote Cement closed at N1,341.90 on October 27, 2026, up 9.8% on the day on about 4.29 million shares traded.
The stock is up about 120.34% year to date from N609.00, and about 25.8% for the month, and has passed its previous 52-week high of N1,189, with a range of N534.60 to N1,341.90.
With the stock up more than 120% this year, the market already prices in strong earnings.
The next tests are whether margins hold as materials and haulage costs rise, and how the N2.31 trillion of commitments is funded from the cash now on hand.
