By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)-Cement manufacturers, Dangote Cement Plc on Tuesday said its pretax profit for the period ended December 31, 2017 grew 60.1 percent to N289.59 billion from N180.92 billion recorded a year ago.

Post-tax profit of the cement producer rose 43.0 percent to N204.24 billion from N142.85 billion declared the corresponding period of 2016.

Revenue also appreciated from N615.10 billion in 2016 end to N805.58 billion in the review period of 2017; representing an increase in revenue of 31.0 percent, Dangote Cement said in a filing with the Nigerian Stock Exchange (NSE).

The company proposed a dividend of N10.50 per share to its investors in the audited period ended December 2017 compared to N8.50 per share paid in 2016 end; representing an increase in dividend payout of 23.52 percent.