BUA Cement reports 48% rise in revenue in 2019
Nigeria’s BUA Cement has reported a 47.5 per cent rise in revenue to NGN175.52bn (US$452.35m) for 2019, compared to NGN119.01bn in the previous year. EBITDA also surged 47.2 per...
Nigeria
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Lafarge Africa sees net profit rise 157% in 1Q20
Lafarge Africa has reported a 9.8 per cent increase in net sales to NGN63.97bn (US$178.93m) in its unaudited results for the first quarter of 2020, compared to NGN58.02bn in the...
Lafarge Africa provides NGN500m intervention fund to alleviate COVID-19 challenges
In response to the COVID-19 pandemic, Lafarge Africa (LafargeHolcim group) has deployed a NGN500m (US$1.28m) intervention fund to provide medical infrastructure, food and essent...
Lafarge Africa PLC returns to profit in 2019
Lafarge Africa PLC has reported revenues of NGN213bn (US$551.5m) for the year ended 31 December 2019 as against NGN218bn in 2018. Operating expenses fell from NGN29.89m to NGN23...
Dangote Cement looks to raise NGN100bn from bonds
Nigeria’s Dangote Cement is seeking to raise up to NGN100bn (US$257.23m) from the bond market, under its NGN300bn debt issuance programme. The funds from the company’s first off...
BUA provides funds for COVID-19 relief in Nigeria
Nigeria’s BUA has fulfilled a pledge by transferring NGN1bn (US$2.6m) of funds to the COVID-19 relief account with the Central Bank of Nigeria. In addition, the group also annou...
Dangote Cement sees modest revenue decline in 2019
Nigeria’s Dangote Cement has seen a modest 1.1 per cent YoY decrease in revenue to NGN891.67bn (US$2.45bn) for 2019, compared to NGN901.21bn in the previous year. EBITDA also fe...
Dangote Cement receives approval for share buyback
Nigeria’s Dangote Cement has received shareholder approval to complete a share buyback scheme within 12 months. Under the plans, 1.7bn out of a total of 17.04bn ordinary shares ...
BUA Cement formally lists on Nigerian Stock Exchange
Nigeria’s BUA Cement has been formally listed on the country’s stock exchange with a market capitalisation of over NGN1.2trn (US$3.32bn). The listing brings a conclusion to the ...
Shareholders approve CCNN-Obu merger
Shareholders of Cement Co of Northern Nigeria (CCNN) and Obu Cement Co have unanimously approved the merger of the two entities into Obu Cement plc. This implies that all the as...