Skip to main content

Ashaka Cement profits surge in 1H14

Published by
World Cement,


Ashaka Cement has posted first half pre-tax profit of N4.39 billion, up from N1.65 billion in 1H13, an increase of more than 166%. Profit after tax grew more than 200% to N3.51 billion, while the Nigerian company’s net margin reached 28.33% from 9% in 1H13.

Costs fell to 58.13% from 80% last year, which is attributed to the company’s use of coal as a cheaper source of energy. However, revenues grew only 4% to N12.32 billion. A decline in cement demand due to the rainy season could have contributed to lower sales, reports Business Day Online.

Meanwhile, Ashaka Cement is gearing up for expansion, having secured the necessary credit to support its growth plans. In April, the company announced plans to inject N100 billion into capacity expansion, a coal-fired captive power plant and other projects. As the most populous country in Africa, Nigeria has a huge housing shortage and considerable potential for growth within the cement industry. However, there is also a great deal of competition from Dangote Cement, which holds the greatest market share in the country.


Edited from various sources by

Additional source:

Read the article online at: https://www.worldcement.com/africa-middle-east/11082014/ashaka-cement-profits-surge-in-1h14-273/

You might also like

 WCT2020

Optimisation 2020

Optimisation 2020 provides a unique online forum for cement industry professionals to hear first-hand from experts through a series of exclusive presentations from cement producers and industry experts.

Find out more and register for the series »

 

 Spotlight

World Cement Spotlight with Rockwell Automation

World Cement Editor, David Bizley, sat down with Michael Tay, Advanced Analytics Product Manager at Rockwell Automation to discuss his recent article in World Cement.

Entitled ‘Smooth Sailing’, this article explains how machine learning can help save energy, reduce downtime and predict equipment failures, thus enabling the smooth running of cement plant operations.

Watch the interview now »

 

High-level control in cement production

Dirk Schmidt and Eugen Geibel, KIMA Process Control, discuss how the methods of High-Level Control (HLC) have been used in the cement industry in the early 2000s and control ever more complex closed-loop-controlled processes where standard controllers fail.

 
 

Embed article link: (copy the HTML code below):