**Dangote Cement Sets New Profit Record as Cement Price Hikes Boost Earnings** In a remarkable feat, Dangote Cement, Nigeria's largest cement producer, has recorded a staggering twofold leap in its annual net profit to an unprecedented N1 trillion. This impressive performance was largely driven by a significant increase in revenue, thanks to a hike in cement prices, despite a slight decline in sales volume. According to the company's recent earnings report, revenue surged by 20.3 percent to N4.3 trillion, despite a drop in sales volume to 27.5 million. This development is a testament to the company's ability to capitalize on the restrictive and thinly competitive cement market in Nigeria. The firm's focus on reducing finance costs also contributed to its remarkable earnings. Dangote Cement's cement production and bagging rose by 5.8 percent to 55 million, with the company operating at half its installed capacity. The company's export milestones for the year included an 18.6 percent increase in cement and clinker exports from Nigeria and the dispatch of 34 shiploads of clinker to Cameroon and Ghana. This achievement reinforces the company's vision of positioning Nigeria as a low-cost regional hub, replacing expensive imports with competitive African production. Cost efficiency was a hallmark of the company's performance, with production costs dropping and administrative expenses and selling & distribution expenses slightly increasing. The company also recorded a significant reduction in finance costs, which fell by half to N351.5 billion, thanks to the absence of a foreign exchange loss. The impressive performance has resulted in a significant increase in the company's profit before tax, which expanded by 109.2 percent to N1.5 trillion. Post-tax profit also jumped to N1 trillion from N503.2 billion. The company's EBITDA margin stood at 46 percent, indicating a robust core profit. As a result of its impressive performance, the company has announced a final dividend of N45 per share, a 50 percent increase from the previous year. This dividend payout has the potential to reach N759.3 billion. The company's return on equity also stood at 38.7 percent, up from 23.1 percent. This remarkable achievement by Dangote Cement is a testament to the company's resilience and adaptability in the face of a challenging market. As the company continues to expand its operations and increase its market share, it is likely to remain a major player in the Nigerian