Cement News tagged under: nigeria
BUA Cement shows 21% surge in revenue30 October 2020, Published under Cement NewsNigeria’s BUA Cement has shown 21 per cent growth in revenue for the first nine months of 2020, rising to NGN156.55bn (US$412.05m) from NGN129.43bn in the 9M19. Profit after tax also advanced 24 per cent YoY from NGN43.25bn to NGN53.57bn. "We are quite optimistic about the future because it affords us not only with the opportunity to further evolve our business model but also provides an opportunity for accelerated development. We will continue to push to new markets aided by a focused di... |
Dangote's IPO on LSE not expected until 202329 October 2020, Published under Cement NewsNigeria’s Dangote Cement is not expected to attempt an initial public offering on the London Stock Exchange until at least 2023, according to News 24. "The London listing is not something which will happen in the short to medium term," said Temilade Aduroja, head of investor relations. "We are focussed on our export strategy and increasing our foreign-currency revenue." |
Lafarge Africa looks to scale-up Nigeria's road infrastructure14 October 2020, Published under Cement NewsLafargeHolcim Africa hosted a webinar on approaches to rapidly upscaling Nigeria's Economic Infrastructure, yesterday. Nigeria’s Honourable Minister of Works & Housing Guest of honour, Babatunde Fashola, led the discussions emphasising that the government is committed to renew, review and increase Nigeria’s infrastructure. Babatunde Fashola argued that Nigeria stopped investing in infrastructure in the 1970s and that it must get back to investing something similar today by investing a s... |
BUA Cement appoints new CFO05 October 2020, Published under Cement NewsNigeria's BUA Cement has appointed Jacques Piekarski as its new chief financial officer, effective 2 October 2020. Abdul Samad Rabiu, chairman, stated: "The board is confident that Piekarski’s broad experience, strong leadership capabilities and understanding of the industry will ensure that BUA Cement is well positioned to take advantage of available opportunities to drive improved operational performance and sustain our profitable growth trajectory." Prior to joining the company, Mr ... |
Dangote Cement PLC offers transparency for 2019 Annual and Sustainability Report24 September 2020, Published under Cement NewsDangote Cement offered transparency of the facts behind the figures of its combined Annual and Sustainability Report of 2019 in a webinar. The report was presented online yesterday to the capital market stakeholders. Michel Puchercos, Dangote Cement’s general managing director, said: "We continue our efforts on sustainability and governance with our seven sustainability pillars – 'The Dangote Way'. The seven pillars – cultural, economic, institutional, financial, environmental, operatio... |
Nigeria in focus07 August 2020, Published under Cement NewsNigeria, Africa's biggest cement market, is still pushing the bar in terms of profits for cement companies at a time when other countries are struggling to overcome the financial constraints arising from COVID-19 and general apathy for cement demand. Nigeria has been at the head of the queue to see African cement demand recovering with BUA Cement and Dangote cement reporting an upturn in 1H20 sales, while exports have begun for Dangote. BUA Cement's 1H20 results saw a robust 12.7 per cent ... |
BUA Cement records 13% revenue increase in 1H2004 August 2020, Published under Cement NewsNigeria’s BUA Cement has announced a 12.7 per cent YoY increase in revenue to NGN101.3bn (US$261.07m) in the first half of 2020, with profit after tax also advancing 13.7 per cent YoY to NGN34.82bn. The company’s EBITDA margin also improved to 48.1 per cent in the 2Q20, compared to 45.6 per cent in the first quarter. "Despite the prevailing economic conditions, we are quite optimistic about the future because it affords us not only with the opportunity to further evolve our business mode... |
Dangote's 1H20 results see 2% revenue growth27 July 2020, Published under Cement NewsDangote Cement reported group revenue up two per cent to NGN476.9bn (US$1.23bn) in the 1H20. Group EBITDA rose to NGN218.1bn and pan-African EBITDA increased by 31.6 per cent to NGN31.5bn. Profit before tax was up 4.7 per cent to NGN162.9bn and net debt stood at NGN372.1bn at the end of 30 June 2020. Michel Puchercos, Group CEO, said: "I am humbled by the fact that we continue to be in a strong position despite the economic downturn that the world is facing due to COVID-19. Although April ... |
BUA Cement plans new 3Mta plant in Adamawa06 July 2020, Published under Cement NewsNigeria’s BUA Cement has announced that it is planning to establish a 3Mta cement facility and 50MW power plant in the Guyuk and Lamurde areas of Adamawa state. While visiting the state governor, Abdul Samad Rabiu, chairman of BUA Cement, reportedly referenced preliminary findings which show that the two areas have good quality limestone deposits and said the company is ready to begin investment in the state. Mr Rabiu noted that the Guyuk plant would be a major investment into the northea... |
Dangote Cement starts Senegal exports and sets new target15 June 2020, Published under Cement NewsNigeria’s Dangote Cement exported its first shipment of clinker to Senegal during the weekend. The 27,800t shipment set off from the company’s terminal in Apapa Port, Lagos. "This vessel, being the maiden ship is exporting 27,800t to Senegal and this is just a tip of the iceberg as to what we have in plan. What we have in plan is to send clinker from Nigeria to Côte d'Ivoire, Cameroon and Ghana," said Alhaji Sada Ladan-Baki, group executive director. Mr Ladan-Baki also noted that the com... |