LAGOS (Reuters) - Nigeria's biggest listed company, Dangote Cement, said on Wednesday its pre-tax profit rose 22 percent to 93.9 billion Nigerian naira in the first nine months of the year to September.
In a statement, the cement producer also said it expected revenues of 238 billion naira by the end of the full year, with 124 billion naira in operating profit.
It said it planned to spend around $2.5 billion constructing manufacturing plants and import terminals across Africa to build a further 19 metric tonnes capacity, part of its plan to build a pan-African cement empire stretching from Senegal to Ethiopia.
"Sub-Saharan Africa continues to enjoy strong and sustainable growth and remains an attractive market for capital investment, particularly for infrastructure development," Chief Executive Devakumar Edwin said.
"With our strategic goal to build substantial new capacity in Africa's growth economies, Dangote Cement is well on its way to becoming one of the leading cement producers in the world," Edwin said.
He added that in its domestic Nigerian market it had achieved production capacity of 19 metric tonnes in 2011 and expected to increase that to 29 metric tonnes by 2015.
"Dangote Cement is committed to increasing production as quickly as possible in order to achieve its aim of helping Nigeria become self-sufficient in cement," the statement said.
It added that it had plans to expand into a further 12 African countries, with a plant in Senegal expected to start production in the first half of 2012.
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