Three listed companies under the Dangote Group have recorded a strong start to the year, posting a combined profit before tax of N456.68 billion in the first quarter of 2026. This represents a 52 percent increase compared to N300.61 billion recorded in the same period of 2025, according to financial results filed on the Nigerian Exchange (NGX) and reported by industry sources.
The companies involved are Dangote Cement Plc, Dangote Sugar Refinery Plc, and NASCON Allied Industries Plc. Their performance reflects improved revenue generation, better cost management, and reduced pressure from raw material expenses across the group’s operations.
Dangote Cement has remained the biggest driver of earnings within the group. The company posted a profit before tax of N421.1 billion in Q1 2026, up about 35 percent from N311.9 billion in the same period last year. Revenue also rose strongly to about N1.19 trillion, supported by increased sales activity and stable demand in its core markets. Profit after tax climbed to N321.09 billion, showing that higher sales more than offset rising production costs during the period.
Analysts say the cement company’s performance was supported by strong revenue growth and relatively controlled cost increases, allowing it to maintain solid margins despite a challenging operating environment.
NASCON Allied Industries also recorded improved profitability, even though revenue performance was mixed. The company benefited from lower production costs, which dropped significantly during the period due to improved efficiency and cheaper raw materials. This helped lift gross profit and strengthened overall earnings. Its profit before tax rose by over 30 percent, while profit after tax also increased by a similar margin compared to the same quarter last year.
For Dangote Sugar Refinery, the quarter marked a major turnaround. The company moved from a loss position in the first quarter of 2025 to a profit in 2026. The recovery was largely driven by a sharp decline in raw material costs, which reduced overall production expenses and improved margins. As a result, the company returned to profitability both before and after tax, reversing last year’s losses in the same period.
Across the three companies, cost efficiency played a key role in improving earnings, alongside stronger revenue performance in key segments. The group’s ability to manage input costs while sustaining sales growth helped boost overall profitability.
The latest results also reflect continued investor attention on Dangote-linked companies, which remain among the most actively followed stocks on the Nigerian Exchange due to their scale, market influence, and contribution to industrial output in Nigeria.
Overall, the Q1 2026 performance highlights a broadly positive start to the year for Dangote’s listed businesses, with strong earnings momentum driven by cement, recovery in sugar, and steady gains in the group’s agro-processing arm.
