Cement News tagged under: Nigeria
BUA to expand Kalambaina plant27 July 2022, Published under Cement NewsBUA Cement is reportedly in talks with the International Finance Corporation (IFC) over a loan to expand its integrated cement plant in Kalambaina, Sokoto State, Nigeria. According to Reuters, the company is looking to increase the plant's cement production capacity from 2Mta to 8Mta. |
BUA approves dividend and sets 2023 deadline for current expansion projects26 July 2022, Published under Cement NewsBUA Cement Plc shareholders have approved dividends of NGN88.047bn (US$96.3m) for the financial year ended 31 December 2021 at NGN2.60k per ordinary share of 50k each. This approval was given during the company’s 6th Annual General Meeting held in Abuja and comes on the back of a strong financial performance in the year under review, which recorded revenue growth of 22.9 per cent from NGN209.4bn in 2020 to NGN257.3bn in 2021. Profits after tax also rose by 24.5 per cent YoY to NGN90.1bn in... |
Dangote Cement partners with UNEP18 July 2022, Published under Cement NewsDangote Cement has formed a partnership with the United Nations Environment Programme, the National Environmental Standards and the Regulations Enforcement Agency as part of its initiatives to promote environmental sustainability. The announcement comes as the company commemorates World Environment Day 2022 at all 14 of its production plants across Nigeria and the rest of Africa, reports The Punch. According to Dr Igazeuma Okoroba, head of sustainability at Dangote Cement, "World Enviro... |
Mangal Industries Ltd performs plant groundbreaking ceremony18 July 2022, Published under Cement NewsMangal Industries Ltd has performed the groundbreaking ceremony of a greenfield cement plant in Iluagba, Kogi State, Nigeria. Mangal Industries had signed a US$600m deal with Sinoma International Engineering, of China, for the construction of a 3Mta cement plant and a 50MW captive power plant in Kogi State. Mangal Industries Ltd's Managing Director, Engr Fahad Mangal said shortly after the ceremony that the project is expected to be completed by the end of the 1Q24. According to him... |
Dangote volumes up 4% in 1Q2206 May 2022, Published under Cement NewsDangote has reported a 24.2 per cent YoY increase in group revenue to NGN413.2bn (US$995.4bn) in the opening quarter of 2022. Group EBITDA over the same period advanced by 18.6 per cent to NGN211bn giving a margin of 51.1 per cent. Sales volumes for the group fell by 3.6 per cent YoY to 7.2Mt as operations relying on cement and clinker imports, namely Ghana, Sierra Leone and Cameroon, were disrupted by global supply chain issues. Profit after tax in the 1Q22 advanced by 18 per cent YoY to re... |
BUA sees jump in profit following new plant25 April 2022, Published under Cement NewsBUA Cement increased sales in the 1Q22 by 58.5 per cent to NGN97bn (US$233.4m) following the commissioning of its new 3Mta Kalambaina Line 4 . Other income surged seven times to NGN186m on the back of insurance claims, which represented 88.7 per cent of the income class. In addition, the management reduced net finance costs by 96.5 per cent. Post-tax profit increased by 48.2 per cent to NGN33.1bn when compared with the 1Q21. Profit margins stood at 34.2 per cent. BUA Cement expects to... |
Lafarge (Wapco) Cement Plc records profit of NGN17.55bn in 1Q2225 April 2022, Published under Cement NewsNigeria’s third-largest cement producer, Lafarge (Wapco) Cement Plc , has released its 1Q22 unaudited results reporting a profit of NGN17.55bn (US$42.2m) during the period, representing 92.2 per cent YoY increase. Revenue growth for the period reached 26.8 per cent YoY. Sales of cement increased by 26 per ent achieving sales of NGN87.99bn, and sales of aggregates and concrete grew by 62.29 per cent, generating NGN2.52bn during the period. Mortar sales also increased by 60.41 per cen... |
BUA Cement fire results in loss of three lives22 March 2022, Published under Cement NewsThe management of BUA Cement PLC at the weekend announced a fire incident that occurred at a diesel storage tank farm situated in the vicinity of one of its plants in Sokoto . The company in a statement signed by Sada Suleiman, assistant director of Admin Services, said the incident occurred while routine maintenance work was ongoing on one of the storage tanks by a third-party contractor. However, it explained that immediately the incident occurred, its emergency management and mit... |
Dangote: powerhouse of Africa and Nigeria08 March 2022, Published under Cement NewsThrough the use of financial ratio analysis, this month’s Technical Forum examines how Dangote Cement – the powerhouse of Africa and Nigeria – has managed to achieve a strong and sustained financial performance. Dr Clark looks at why Dangote Cement is right at the top of the range of performance for cement companies The benchmarking of a cement factory and cement company performance remains a major part of Whitehopleman and Dr Clark’s work. When such benchmarking exercises are b... |
Dangote Cement reports group revenue of NGN1383.6bn in 202103 March 2022, Published under Cement NewsDangote Cement reported that for the year ended 31 December 2021, group revenue reached NGN1383.6bn (US$3.327bn), up 33.8 per cent on 2020. The group recorded a record EBITDA of NGN684.6bn. Pan-African EBITDA totalled NGN88.8bn, a rise of 24.6 per cent. Net debt reached NGN225.1bn. In total, manufacturing costs increased by 25.8 per cent to NGN551bn from NGN437.9bn in 2020. Materials consumed cost increased by 30 per cent to NGN175.4bn, while fuel and power cost advanced by 34.4 per cent ... |