Ashaka sees significant rise in profit, Nigeria

Ashaka sees significant rise in profit, Nigeria
Published: 19 April 2011

Ashaka Cement plc, a Nigeria-based cement maker, has announced a significant 218 per cent increase in its profit after tax to NGN3bn (US$19.4m) in 2010, from NGN944m.

The growth in profit-after-tax did not however reflect the drag in the company’s sales figures, which grew by 11.4 per cent to NGN19.15bn from NGN17.19bn. There was however a significant improvement in the company’s key performance indices.