CCNN records 166% rise in revenue for 1H19

The Cement Company of Northern Nigeria has reported a 166 per cent YoY increase in sales revenue for the first six months of 2019, rising to NGN32.1bn (US$88.8m) from NGN12.11bn. However, the cost of production also surged 138 per cent to NGN17.8bn. Profit after tax advanced to NGN7.3bn, compared with NGN2.6bn in the 1H18.

In the second quarter of 2019, the company saw a revenue of NGN15.3bn while production costs reached NGN8.6bn.