Cement News tagged under: Nigeria

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Ashaka Cement 1Q14 profit after tax rise 69%

05 May 2014, Published under Cement News

Ashaka 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.

Lafarge Wapco first-quarter pretax profit up 20%

29 April 2014, Published under Cement News

Lafarge Wapco said on Monday its first-quarter pretax profit rose to NGN8.62bn (US$54m), up 20 per cent from NGN7.20bn in the same period of last year. Turnover at the Nigerian unit of France’s Lafarge, rose to NGN27.03bn during the three months to March, against NGN23.23bn a year earlier, it said in a filing with Nigerian Stock Exchange.

BUA signs gas supply deal for Edo Cement Co

01 April 2014, Published under Cement News

BUA Cement has signed a gas sales and purchase agreement (GSPA) with Nigerian Gas Company (NGC) for its Edo Cement Co subsidiary. Leadership Newspapers reported that the agreement  was signed by both parties in Lagos at the weekend. The deal would see the supply of about 33mmscf per day of natural Gas by NGC to the Edo cement plant in Okpella, Edo State according to managing director, NGC, Engr Saidu Mohammed. The group executive director, BUA Group, Kabiru Rabiu who signed the agreement...

Ashaka Cement pretax profit declines, Nigeria

01 April 2014, Published under Cement News

Nigeria’s Ashaka Cement said its pretax profit fell last year to NGN2.84bn (US$17.2m) from NGN5.47bn in the last year. Turnover only slipped to NGN21.69bn from NGN21.82bn, the company said in a filing with the Nigerian Stock Exchange.

Dangote: new capacity development update

28 March 2014, Published under Cement News

Full-year results from Dangote Cement show the company has been outperforming growth in its domestic market of Nigeria as new capacity boosts market share. With a number of new projects scheduled for completion this year both on the home front and across the sub-Sahara Africa region, the emerging cement major is targeting 60Mta of production, grinding and import capacity by 2016. On Wednesday the company delivered its 2013 financial review highlighting that revenues rose by 22.4 per ...

Dangote Cement revenue rises 29.4%

27 March 2014, Published under Cement News

Dangote Cement, Nigeria’s largest cement company saw revenues rise 29.4 per cent last year to nearly NGN386.2bn (US$2.45bn), backed by 28.2 per cent growth in domestic volumes. In Nigeria, revenue from cement operations (including haulage revenue) rose by 30.1 per cent YoY to nearly NGN371.6bn. Dangote Cement Ghana Ltd contributed revenue of NGN14.1bn in 2013, an increase of nearly 15.2 per cent on 2012. At group level, gross profits rose by 35.3 per cent to NGN243.7bn. Consolidated gr...

Dangote Cement

27 March 2014, Published under Cement News

Dangote Cement has recalibrated all three of its Nigerian plants (Ibese, Gboko and Obajana) to produce only 52.5 grade cement. The move follows concerns that sub-standard cement is responsible for a spate of building collapses. According to Dangote, it is the only company in Africa to produce this standard and will be selling it at the same price as the lower grade 42.5N type “to make it affordable to all.” The move comes as Devakumar Edwin, CEO at Dangote Cement, has called for a massive...

Lafarge WAPCO pretax profit jumps

21 March 2014, Published under Cement News

Lafarge's WAPCO announced on Thursday that its 2013 full-year pretax profit rose 30.3 per cent to NGN27.7bn (US$168.3m). The Nigerian unit of the French cement major also said revenue jumped to NGN98.79bn from NGN87.76bn the previous year.

UniCem begins construction of new line, Nigeria

14 March 2014, Published under Cement News

United Cement Company of Nigeria (UNICEM) has started construction of its second line to meet growing demand for cement in Nigeria. Addressing journalists in Calabar, Olivier Lenoir, managing director of the company, said that the new 2.5Mta line will double UniCem’s existing capacity to 5Mta upon completion in 2016. Sinoma of China is constructing the new kiln line. The project also includes a 45MW captive power plant by Wartsila Nigeria Ltd, the work for which has already begun.

Dangote launches 52.5 grade to Nigerian market

12 March 2014, Published under Cement News

Dangote Cement yesterday launched its 52.5 grade cement to the Nigerian market. The African cement major said at a press briefing it has recalibrated all three of its Nigerian plants (Ibese, Gboko and Obajana) to produce 52.5 grade. The cement has been approved by the Standard Organisation of Nigeria (SON), which confirmed that the product meets the requirements of NIS 444-2003 and other relevant standards. According to Dangote, it is the only company in Africa to produce this standard. ...