Cement News tagged under: BUA Cement
BUA invests in technology to lower costs11 August 2023, Published under Cement NewsBUA Cement has announced plans to invest in state-of-the-art technologies in a bid to reduce operating costs after reporting a 20 per cent increase in the cost of sales in the first half of 2023. According to the company, the increase was due to higher raw materials costs, energy costs, depreciation charges, and repair and maintenance costs. The Nigeria-based company has already invested in lower-pressure peroxide plants to reduce power consumption, and designed all its plants with tech... |
Nigerian cement sector expands 16% YoY in 1H2307 August 2023, Published under Cement NewsThree of Nigeria’s leading cement producers have reported combined revenue of NGN1.37trn (US$1788m) in the opening six months of 2023, despite the challenging business environment. According to The Sun, Dangote Cement , BUA Cement and Lafarge Africa Plc ’s combined revenue marks a 16.1 per cent increase in the country’s cement industry sector compared to the same period last year. Combined profit after tax for the three companies also improved, up 2.5 per cent YoY to NGN277.7bn, of which... |
BUA Cement posts 1H23 revenue of NGN221bn31 July 2023, Published under Cement NewsBUA Cement of Nigeria reported revenue of NGN221,067m (US$284.9m) in the 1H23, up 17.2 per cent from the NGN188,562m recorded in the 1H22. Operating profits totalled NGN86,940m in the 1H23, up 11.8 per cent from NGN77,737m in the 1H22. Profit before tax amounted to NGN76,425m, up from NGN77,378m in the 1H22. Profit after tax totalled NGN63,616m, a rise of 3.7 per cent from the NGN61,364m seen in the 1H22. |
BUA Cement posts 9.7% rise in net revenue in 1Q2312 May 2023, Published under Cement NewsBUA Cement reports its net revenues rose by 9.7 per cent to NGN106.4bn for the quarter from NGN97bn (US$209.7m) in the same period a year ago. BUA Cement’s 1Q23 revenue per tonne increased by 18.5 per cent to NGN66,250/t from NGN55,904/t in the 1Q22. EBITDA declined by 2.8 per cent to NGN45bn from NGN46.3bn in the 1Q22. Earnings were offset by increases in raw materials, higher energy costs, depreciation charges, distribution costs and debt issue expenses. Costs of sales rose ... |
BUA Cement revenue rises by 9.7% in 3M2328 April 2023, Published under Cement NewsNigerian-based BUA Cement reported a revenue increase of 9.7 per cent to NGN106.9bn (US$232.2m) for the the three-month period ended March 2023 from NGN97bn in 3M22. Operating profit dropped by 9.4 per cent to NGN38.4bn for the 3M22 from NGN42bn in 3M22. Profit before tax fell by 15.6 per cent to NGN35.5bn from NGN42bn in 3M22. |
BUA Cement's revenue increased by 40% in 202209 March 2023, Published under Cement NewsBUA Cement Plc of Nigeria reported that revenue increased by 40.3 per cent or NGN103.7bn (US$22 5.3m) in 2022 to NGN361bn from NGN257.3bn in 2021, given the combination of pricing activities and increased volume dispatched (including added volumes from the new Line 4 in Sokoto). Cement volumes in 2022 totalled 6.27Mt. The company's revenue per tonne increased by 21.2 per cent to NGN57,511/t in 2022 from NGN47,448/t, as at 2021. "This was due to pricing activities during the year," s... |
BUA Cement sees 12% increase in net profit in 202228 February 2023, Published under Cement NewsNigeria-based BUA Cement reported a 40.3 per cent increase in revenues to NGN360,989m (US$7783.4m) in 2022 when compared with a revenue of NGN257,327m in 2021. Profit before tax advanced 16.8 per cent to NGN120,154m in 2022 from NGN102,873m in the previous year while profit after tax was up 12.1 per cent to NGN101,011m in 2022 from NGN90,079m. |
BUA Cement 's revenue rises by 41% in 9M2231 October 2022, Published under Cement NewsBUA Cement ’s revenue in 9M22 increased by 40.5 per cent to NGN262.6bn (US$5.99m) from NGN186.9bn as at 9M21. Operating profit increases by 31.1 per cent to NGN99.2bn from NGN75.7bn as at 9M21. Profit before tax increased by 19.5 per cent to NGN88.8bn from NGN74.3bn as at 9M21. |
What's driving Nigerian cement demand?02 September 2022, Published under Cement NewsBUA Cement announced this week that it would seek finance from the International Finance Corp (IFC) for a 6Mta cement expansion of its Sokoto cement plant in Kalambaina, Nigeria. The aim is to make Nigerian cement production more sustainable and reduce the cost of the product, according to BUA Cement. But what other drivers have continued to bolster cement capacity growth in the west African country? While domestic demand has been growing rapidly and caused cement prices to spiral upward, t... |
BUA Cement looks to finance 6Mta expansion project31 August 2022, Published under Cement NewsBUA Cement is in talks with US-based International Finance Corporation (IFC) to raise funds through a loan to expand its cement facility, the company said in a statement to the Nigerian stock exchange. The funding aims to expand the capacity of the company’s integrated cement plant in Kalambaina, Sokoto , to 8Mta from 2Mta and develop other ancillary utilities. In a recent statement, BUA Cement Chairman, Abdul Samad Rabiu, said that the ongoing projects will be completed in 2023 t... |