Cement News tagged under: Nigeria

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Dangote nine month profit rises 13.5 per cent

02 November 2012, Published under Cement News

Nigeria's Dangote Cement said on Thursday its pretax profit for the nine months to September rose 13.5 per cent to NGN105.8bn (US$673.63m), compared with NGN93bn in the same period last year. Revenue for the nine month period hit NGN208.3bn, compared with NGN173bn in the same period of 2011. Dangote said heavy rains and flooding affected sales in the third quarter, but profit margins remained strong at 63 per cent owing to the effect of gas supplies which returned to normal to cut ener...

New Nigeria cement plant under planning

08 October 2012, Published under Cement News

The Abuja Chamber of Commerce Industry, Mines and Agriculture (ABUCCIMA) announced it is to build a cement factory in Abia state, Nigeria, in partnership with foreign investors and the state government. Dr Solomon Nyaba director general of ABUCCIMA told local press that work is scheduled to start very soon. “Abia is a good place for investment because the government is willing to provide incentives to investors,” Business Day quoted him as saying. “The state has huge deposits of li...

Nigeria eliminates need for imports in first nine months

03 October 2012, Published under Cement News

The Cement Manufacturers Association of Nigeria (CMAN) has stated that Nigeria has not imported cement since the beginning of the year, thus helping the Federal Government’s aim of making the country self-sufficient in cement. Speaking at a forum in Calabar, Cross River State, at the weekend, president of CMAN, Joseph Makoju, lauded the Federal Government for policies that have prevented the need for cement imports, thereby, protecting local industries. “For the first time in Nigeria’s h...

Ashaka Cement sees profits rise 54 per cent

27 September 2012, Published under Cement News

Nigeria-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...

Nigeria: Dangote Group employment drive

20 August 2012, Published under Cement News

To generate more employment in the area, Dangote Group has unveiled plans to establish an agro-sacks manufacturing company at Ibese, Ogun state, to complement the Dangote Cement plant in the community as part of the company’s efforts to create employment, as well as other ventures. President of Dangote Group, Alhaji Aliko Dangote disclosed these investment plans during a meeting with Ibese community host members of Yewa North Local Government Council of Baales. Dangote, who was represented ...

Lafarge: July '12

03 August 2012, Published under Cement News

Lafarge's 1H turnover increased by an underlying 4.9 per cent to €7614m and the EBITDA rose by 7.8 per cent to €1523m, while the trading profit increased by 14.7 per cent to €1022m. A lower €46m gain was taken on the sale of emission permits in the period. The net attributable profit, after charging restructuring costs and writing €200m off the assets in Greece, tumbled 95 per cent to €13m. Net debt at the end of June was 12 per cent lower at €12,550m and the gearing increased slightly from...

Dangote Cement pretax profit rises, Nigeria

03 August 2012, Published under Cement News

Nigeria’s leading producer Dangote Cement said on Thursday its pretax profit for the first half grew by 23 per cent YoY to NGN71.3bn (US$443m), from NGN58.1bn last year. Turnover at the cement maker climbed to NGN142bn during the period, compared with NGN112.7bn a year ago, it said in a filing with the Nigerian Stock Exchange.

Lafarge WAPCO pretax profit rises, turnover falls, Nigeria

02 August 2012, Published under Cement News

Lafarge WAPCO said on Tuesday that its 1H12 pre-tax profit rose 19 per cent YoY to NGN12.18bn (US$76m). However, turnover fell to NGN46.34bn during the period from NGN62.50bn a year ago, the company said in a filing with the Nigerian Stock Exchange.

Dangote Cement applies for two-year free float extension, Nigeria

31 July 2012, Published under Cement News

Dangote Cement Plc  is seeking an extension of the free-float waiver it secured from the when it merged with Benue Cement Company Plc two years ago, reports from the Nigerian Stock Exchange (NSE) indicated. The 24-month waiver extension is to enable the company remain listed on the stock exchange despite maintaining a free-float that is below 25 per cent, a violation of the NSE requirement for listed companies. Out of the companies listed on the Nigerian bourse, Dangote Cement is one o...

Lagos state agrees deal with Lafarge and Dangote

24 July 2012, Published under Cement News

The Lagos State Government has signed a new deal with Dangote Cement Plc and Lafarge Cement WAPCO Plc to ensure undisrupted cement supplies to construction firms contracted to handle various infrastructure project which the state government is set to embark upon. Commissioner for Works and Infrastructure, Dr. Obafemi Hamzat revealed the details at a media briefing where he said the state government had started looking into cement mix as an alternative method in road construction. Ha...