A new report has ranked Dangote Cement Plc as the most capitalised company on the floor of the Nigerian Stock Exchange.

The report, the BusinessWorld 100 Annual Ranking, also showed that Dangote Cement was the most profitable company trading on the floor of the NSE.

The BusinessWorld 100 annual ranking gives indications of operational efficiency, apart from volume of key operating figures. This is the seventh edition of the survey.

The report showed that Dangote Cement had closed the year 2013 with a market capitalisation of N3.73tn, thus retaining its position as the most-capitalised company on the floor of the Nigerian Stock Exchange.

According to the ranking, Nigerian Breweries and Nestle Nigeria, both of the manufacturing sector, trailed Dangote Cement with market capitalisation of N1.3tn and N951.2bn respectively.

A statement from Dangote Cement on Sunday said the company became the most profitable company in Nigeria with a profit of N201bn in 2013. Zenith Bank Plc and Guaranty Bank Plc were ranked next with profit of N95bn and N90bn, respectively.

According to the statement, the recent acquisition of 243,500 million shares of Dangote Cement by the Investment Corporation of Dubai for $300m (N48bn) was a boost to the company and its shareholders.

The deal was signed by the Executive Director, ICD, Mr. Mohammed Al Shaibani, and President, Dangote Industries Limited, Alhaji Aliko Dangote.

The transaction represents a landmark for ICD being its first major investment in the high growth African continent and is aligned with one of its key strategic goals to pursue diversification.

According to the statement, the deal serves to further bolster the company’s register with large institutional investors and demonstrates its increasing appetite for international capital.

The statement quoted the Chairman, Dangote Cement, Aliko Dangote, as saying, “We are pleased to welcome such a prestigious investor as the Investment Corporation of Dubai to our growing list of international, blue-chip shareholders.

“ They share our vision of Africa that will grow to become an economic powerhouse in the coming decades as its people rise to become prosperous members of the global economy.”

Punch