Cement News tagged under: Ashaka Cement
Ashaka Cement stake changes hands11 September 2014, Published under Cement NewsLafarge Group has sold 58.61 per cent of its stakes in Ashaka Cement Plc to Lafarge Africa Plc in a deal valued at NGN41bn (US$252m). Lafarge sold 1.3bn ordinary shares of its Ashaka Cement at NGN30.95 each. The sale follows the company's decision to merge its Nigerian and South African assets into a single unit, Lafarge Africa Plc. In creating Lafarge Africa, the group will sell the entirety of its 72.4 per cent stake in South African unit while relinquishing control of equity stake in... |
Nigeria: Ashaka trebles profit in 1H1411 August 2014, Published under Cement NewsNigerian Lafarge subsidiary Ashaka Cement has reported a 1H14 profit after tax of NGN3.51bn (US$21.5m), a 201 per cent increase than its 1H13 figure of NGN1.15bn. Pretax profits at the company surged 166 per cent YoY from NGN1.65bn to NGN4.39bn in 1H14. The stellar rise in profit figures has been attributed partly to Ashaka's switch to coal from the Maiganga Coal Mine in Gombe State, a significantly cheaper alternative in its power generation. This resulted in a reduction of production co... |
Ashaka to fast-track Gombe plant expansion, Nigeria18 July 2014, Published under Cement NewsThe board of directors of Nigerian producer Ashaka Cement plc, with the support of parent company Lafarge, has agreed to fast-track the expansion of its US$617m cement plant in Gombe state. Guillaume Roux, CEO of Lafarge Nigeria and Benin Republic, had said that the investment of US$617m in Nigeria was a demonstration of its commitment to the economic growth of the country. Chairman of the board of Ashaka Cement, Alhaji Umaru Kwairanga, confirmed the developments, telling local press that... |
Ashaka Cement 1Q14 profit after tax rise 69%05 May 2014, Published under Cement NewsAshaka Cement's 1Q 2014 results showed that profit before tax and profit after tax grew strongly by 74 and 69 per cent to NGN2.8bn (US$17.5m) and NGN1.9bn, respectively when compared to 1Q13, according to Nigerian Stock Exchange data. Sales were up by eight per cent to NGN6.5bn. |
Ashaka Cement pretax profit down 58.87%, Nigeria01 November 2013, Published under Cement NewsAshaka Cement pretax profit fell to NGN2.16bn (US$13.6m) in the first nine months of 2013, down 58.87 per cent from NGN5.27bn a year ago. Turnover for the Nigeria-based producer rose to NGN16.83bn during the nine months to 30 September, from NGN16.46bn in the same period of last year. Ashaka Cement, in which Lafarge holds a 59 per cent interest, having increased this from 50 per cent in 2012, is located in the northeastern Nigerian state of Gombe. |
Ashaka Cement first-half pretax profit falls 54.4%, Nigeria02 August 2013, Published under Cement NewsAshaka Cement reported a 54.4 per cent decline in first-half 2013 pretax profit to NGN1.65bn (US$10.3m) from NGN3.55bn a year ago. Turnover also fell to NGN11.81bn during the six months to June 30, compared to NGN12.26bn in the same period of last year. Askaka Cement, in which Lafarge holds a 59 per cent interest having increased this from 50 per cent last year. Is located in the northeastern state of Gombe. The firm owns a plant with a capacity of 0.85Mta and has initiated a programme to ... |
Ashaka Cement sees profits rise 54 per cent27 September 2012, Published under Cement NewsNigeria-based Ashaka Cement plc has reported a YoY increase in profits of 54 per cent from NGN1.614bn (US$10.3m) to NGN2.489bn for 2Q2012 ended 30 June 2012. The company saw turnover rise to NGN12.261bn from NN10.22bn in 2Q2011. Commenting on the result, analysts at FBN Capital Ltd said the impressive performance may not be unconnected with efficient management of distribution and logistics as well as higher utilisation of coal to fuel power plants. “While we do not yet have management... |
Lafarge02 March 2012, Published under Cement NewsLafarge's underlying turnover, adjusting for the elimination of the gypsum business that has largely been sold, increased by 3% in 2011 to €15,284, but the EBITDA declined by 7.8% to €3217m. The trading profit came down by 8.9% to €2179m and net financial charges jumped by 40.3% to €999m. Other charges, principally a €285m reduction in the value of assets in Greece and in the UAE and €61m of restructuring costs elsewhere, amounted to €541m, an increase of 78%. As a result, the pre-tax profit... |