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MarketScreener Homepage  >  Equities  >  Nigerian Stock Exchange  >  Dangote Cement Plc    DANGCEM   NGDANGCEM008

DANGOTE CEMENT PLC

(DANGCEM)
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Dangote Cement : Govt Exempts Dangote Cement From Land Border Closure

11/11/2020 | 03:06am EST

The federal government has allowed Dangote Cement to resume exports across its land borders, raising hopes that the country may be opening up trade with neighbors after a year-long blockade.

According to Bloomberg, President Muhammadu Buhari's administration gave its authorisation for Africa's biggest producer to export cement to Niger and Togo in the third quarter for the first time in 10 months.

The company's chief executive officer, Michel Puchercos, was quoted to have said this during an investor call in Lagos. The export was made possible "through authorisation given by this administration," he said.

The exemption to Dangote Cement is seen as a softening of the government's position on a border closure that started in August last year, and could open the way for other businesses to fully resume exports across the country's land barriers.

The federal government had closed borders with neighboring countries including Benin and Niger to curb smuggling and boost local production. Although the blockade encouraged the consumption of locally grown produce such as rice, it hurt factories across West Africa, which rely on Nigeria's market of 200 million people.

Dangote resumed land export with "restricted volumes," and plans to grow the trade using the sea channels, according to Puchercos.

The Lagos-based company's plan to buy back some of its shares has been delayed by market volatility and low liquidity, which have affected valuation, Guillaume Moyen, acting chief financial officer said at the same conference call.

Copyright This Day. Distributed by AllAfrica Global Media (allAfrica.com)., source News Service English

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Financials
Sales 2020 921 B 2 438 M 2 438 M
Net income 2020 210 B 555 M 555 M
Net Debt 2020 - - -
P/E ratio 2020 16,3x
Yield 2020 4,98%
Capitalization 3 987 B 10 480 M 10 551 M
Capi. / Sales 2020 4,33x
Capi. / Sales 2021 4,02x
Nbr of Employees 16 245
Free-Float 13,8%
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Technical analysis trends DANGOTE CEMENT PLC
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 7
Average target price 186,16 NGN
Last Close Price 234,00 NGN
Spread / Highest target -9,83%
Spread / Average Target -20,4%
Spread / Lowest Target -36,9%
EPS Revisions
Managers and Directors
NameTitle
Michel Puchercos Group Chief Executive Officer, Group MD & Director
Aliko Dangote Chairman
Guillaume Moyen Group Chief Financial Officer
Sani Dangote Non-Executive Director
Olakunle Alake Non-Executive Director
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