Dangote Cement and MTN once again in 2021 dominate companies listed in the Nigeria exchange
The two firms are among the five biggest companies in the exclusive club of over N1 trillion market capitalisation
Data from Nigeria Exchange shows this two companies led a group of ten with massive profit declaration
Many Nigerian firms will remember 2021 fondly, but for ten, it was a beautiful year, given how difficult 2020 was owing to the COVID-19 outbreak and economic hardship.
The companies which cut across various sectors financial, consumer, telecommunication and industrial recorded over N1 trillion in profit after paying their taxes.
Data obtained from Nigerian Exchange shows these 10 companies recorded a massive 1.03 trillion in profit in just nine months. Everyday at the start of trading public listed companies make and lose billions Credit: NGX Source: Getty Images This figure is expected to hit near to N2 trillion when the 3 months results for 2021 is released mirroring the how Nigeria’s economy is recovering from 2020 recession.
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These companies during the year leveraged on a combination of factors, including strong unit volume growth, pricing and favourable base effects to post significant upticks in both top-line and bottom-line figures according to BusinessDay report. Here are the list of top 10 companies and how much they made so far in 2021
Dangote Cement
Dangote Cement is Africa’s largest cement company made the biggest profit after paying all its tax and continue to be the most efficient cement maker.
NGX Data shows Dangote Cement pocketed a total of N278 billion in the first nine months of 2021.When compared to 2020, the amount recorded this year is a 33 percent increase from N208.6 billion in the nine-month period of 2020. MTN MTN Nigeria, telecommunication gaint between January and September deposited in its bank accounts N220.3 billion after paying all due taxes to the federal government of Nigeria .The profit recorded this year is a 52.74 percent increase compared with N144.2 billion profit after tax from the same period last year. Zenith Bank Zenith Bank is the third most profitable company as it made N160.59 billion in the first nine months of 2021.This represents an increase of 0.8 percent when compared with N159.32 billion in the same period under review for 2020. GTCO Guaranty Trust Holding Company(GTCO) the parent company […]