Sephaku Cement makes profits against last year loss

SepCem’s sales volumes were 9% higher year-on-year for the twelve months ended 31 December 2021 in spite of there being zero sales during the pandemic related restrictions during alert level 5 national lockdown from 27 March 2020 to 3 May 2020¹.

¹SepCem has a December year-end as a subsidiary of Dangote Cement PLC, therefore the figures incorporated

Post-period and following the Dangote Cement PLC results announcement for the first quarter (“Q1”) ended 31 March 2021 released on 30 April 2021, SepCem’s sales volumes continued to increase by 6% compared to the initial quarter ended 31 March 2020. The revenue increased by 16% for the period due to a combination of increased volumes and unit prices. These SepCem Q1 results will be accounted for in the SepHold interim financial results for the six months ending 30 September 2021.

Métier Mixed Concrete’s timely turnaround programme improved the Subsidiary’s profitability, resulting from the combination of lower costs and income from the disposal of under-utilised assets.

Métier’s earnings contributed to the Group’s positive earnings before equity accounting for the Associate, thereby supporting SepHold’s operational expenses for the period under review.

The Group results for the twelve months ended 31 March 2021 compared to the twelve months ended 31 March 2020 (“FY 2020”) are as follows:

• the Group basic earnings per share is expected to be between 7.44 cents and 8.22 cents (FY 2020: basic loss per share of 8.12 cents), and
• the Group headline earnings per share is expected to be between 5.79 cents and 6.39 cents (FY 2020: headline loss per share of 7.97 cents).