West Africa: Dangote Cement Leads Forbes Top 25 Listed Companies

Dangote Cement Plc has emerged Forbes Africa top 25 West African listed companies. The event titled, The Top Listed West African Companies" was a celebration of the success of risk takers and job creators. The award covers the top 25 companies in the West African capital market comprising the Nigerian Stock Exchange (NSE), Ghanaian Stock Exchange (GSE) and the Abidjan-based Bourse Regionale des Valeurs Mobilieres SA (Regional Securities Exchange SA) or BRVM. Speaking at the event, Managing Editor, Forbes Africa, Mr. Chris Bishop said the event hosted by Pan-African Event Company, ABN Productions and Forbes Africa Magazine was an initiative aimed to encourage organisations to strive for sustained excellence and to promote their profiles in Nigeria and around the world. Twenty Nigeria companies which include Nigerian Breweries Plc, Zenith Bank Plc, First Bank Plc and Guaranty Trust Bank Plc made the list. Others are United Bank for Africa, Guinness Nigeria, Nestl Nigeria, Access Bank, Flour Mills Nigeria, Union Bank of Nigeria, Stanbic IBTC, First City Monument Bank, Lafarge Cement WAPCO, Total Nigeria, Unilever Nigeria, PZ Cussions, UACN and Cadbury Nigeria Plc were on the list. Chris said: "The event is the first of a series of awards organised by ABN Productions with broadcast partner, CNBC Africa and will bring together successful high opportunity listed West African companies that operate across a variety of sectors in the current economic climate. " Dangote has high aspirations for the Obajana Cement plant, which is expected to become the single largest cement plant when it is completed in 2015, with 13.25 million tons per annum. Dangote Cement recorded an increase of N33 billion or 16.5 per cent in turnover from N203 billion in 2010 to stand at N236 billion during the year ended 31 December 2011. The profit before tax and extra-ordinary item move from N101.3 billion in 2010 to N118.3 billion in 2011 translating to N16.9 billion or 16.7 per cent increase. It also recorded an increase of N20.6 billion in profit after tax and extra-ordinary item from N105.3 billion in 2010 to stand at N125.9 billion during the financial year end of 2011. The earnings per share of the company also rose by N1.31 kobo from N. 80 kobo in 2010 to N8.12 kobo in 2011 financial year. Source: uaecement