Cement News tagged under: Nigeria

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Dangote’s first quarter and full-year advances, Nigeria

10 May 2012, Published under Cement News

Dangote Cement Plc on Wednesday released its results for the first quarter and also its financial year ending December 2011 to the Nigerian Stock Exchang. The company said 1Q revenue grew by 17.6 per cent from NGN54.51bn (US345.6m) in 2011 to NGN64.11bn first quarter this year, while its revenue for full year 2011 stood at NGN235.91bn. First quarter pretax profit rose by nine per cent to stand NGN30.32bn compared to NGN27.83bn recorded in first quarter of last year, while profit before t...

Lafarge WAPCO first-quarter rise, Nigeria

09 May 2012, Published under Cement News

Lafarge WAPCO posted a turnover of NGN22.6bn (US$143.7m) in the first quarter of 2012, up from NGN14.198bn YoY, representing growth of 59 per cent above the 2011 figures. Profit after tax soared by 151 per cent from NGN1.621bn to NGN4.071bn in 2012. According to analysts at FBN Capital Ltd, the strong sales reflect a higher volume contribution from Lafarge Cement’s new Lakatabu plant, which they said had ramped up production after preliminary hitches in 4Q11. “Management had disclosed ...

Nigeria seeks affordable cement and more home-skilled workers

02 May 2012, Published under Cement News

The Minister of Trade and Investment, Dr Olusegun Aganga, has echoed the federal government's worry over the rising cost of cement and the importation of skilled workers for construction projects in the country. He spoke during an interactive session at the recent Lagos Economic Summit and remarked that Nigeria has moved from a country that produced 2Mt of cement in 2000 to a country that now has the installed capacity to produce 27Mt of cement. He also said that before the end of the y...

Ampt's investment in Nigeria hits N52.6bn

24 April 2012, Published under Cement News

Dallas Hampton, director of leading terminal concessionaire at the Apapa Port, APM Terminals Apapa Ltd, said the company has invested US$200m (NGN31.4bn) in its facilities in Nigeria to-date and plans to invest another US$135m (NGN 21.2bn) before the end of the year. Mr Hampton said the new investment, would cover cost of civil works on modern facilities for receiving cement and other extension projects. He said: "Our level of investment in Nigeria is very extensive. Our investment is a...

Nigeria: Lafarge Wapco launches new products

24 April 2012, Published under Cement News

Lafarge Wapco is targeting block makers and the pre-cast and concrete business with its latest cement product. Elephant Super set was revealed at the Nigeria infrastructure & Construction exhibition Seminar & Product Showcase held in Lagos, Nigeria. Rilwan Yusuf, the company’s senior marketing manager, said the firm came up with the new product, ‘Elephant Super Set,’ to meet the identifiable needs of customers in the building and construction sector. Block makers in the pre-cast and concret...

Nigeria: cement manufacturers seek import ban

23 April 2012, Published under Cement News

Nigerian cement manufacturers have called on the federal government to ban bulk cement imports before the government’s August deadline, claiming that the volume of cement currently produced in the country is enough to meet local demand. “[The] Government should enforce the ban before the August deadline,” said Mr Daljeet Ghai, Dangote Cement group chief executive. “Dangote alone has the capacity needed to meet local demand and sustain supply of the commodity across the nation,” he said. B...

UBA in talks with Dangote for new partnership

20 April 2012, Published under Cement News

Pan-African lender United Bank for Africa is in talks with Aliko Dangote for a partnership to provide banking services to his Dangote Cement group in 13 countries, its chief executive said. Phillips Oduoza told the Reuters Africa Investment Summit in Lagos on Thursday the move would leverage their overlapping presence across the continent. UBA is in all of the 14 countries in which Dangote is building cement plants, except for South Africa. "We are thinking of a strategic partnership betw...

Dividend boost for Dangote shareholders

06 April 2012, Published under Cement News

Dangote Cement Plc announced it will pay a cash dividend of NGN19.37bn, or NGN1.25 per share, according to the company’s financial statement released on the Nigerian Stock Exchanged yesterday. The directors a recommended a bonus issue of one new share for every one already held. Company turnover was noted at NGN235.70bn compared with NGN202.57bn a year earlier, indicating a 16% growth. Profit before tax rose by 14.6% to NGN139.08bn from NGN121.28bn while retained profit surged from NGN...

Dangote Cement pretax profit advances, Nigeria

05 April 2012, Published under Cement News

Dangote Cement said its pre-tax profit rose to NGN118.28bn (US$750.70m) in 2011, compared with NGN117.84bn in the previous year. Nigeria's biggest capitalised company proposed a 1.25 naira per share dividend, plus one bonus share for each 10 held. Turnover rose marginally to NGN235.91bn, compared with NGN235.70bn in the previous year, the company results said.

Dangote to list on London Stock Exchange – report

02 April 2012, Published under Cement News

Nigeria-based cement producer Dangote Cement has mandated JP Morgan and Morgan Stanley to handle its London listing, according to a report in the Financial Times. Dangote Cement intends to float its stock on the London Stock Exchange in 2013 hoping to have made significant progress in its business expansion by next year, the paper reported. Dangote eyes a free float of 20 per cent and plans to use the proceeds to fund its swift business growth. The FT also cited Dangote Cement’s cha...