Despite recession, cement companies report over N570 billion in revenue so far in 2017

Must Read

List of Guaranty Trust Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...

Jumia shuts down in Cameroon

E-commerce company, Jumia Technologies on Monday, November 18 shut down its operations in Cameroon without notice just as it...

These are the 100 best companies to work for in Nigeria

The 2019 edition of the annual Jobberman Best 100 Companies to Work For features Shell in the top spot as the...
- Advertisement -
- Advertisement -

Nigeria’s 3 major cement companies have made a total of N574.5 billion in revenues for the six months ended June 2017.  A N172.5 billion increase compared to the N402 billion made in the corresponding period in 2016.

  • Dangote cement had the lion share with revenues of N412 billion in 2017, a N120 billion increase from the N292 billion made in the  comparative period for 2016.
  • Lafarge Africa had revenues of N154 billion in June 2017, a N47 billion increase compared to N107 billion made in June 2016.
  • CCNN had the smallest share with revenues of N8.5 billion in June 2017, a N2.1 billion increase compared to N6.4 billion in June 2016. All 3 companies posted increases in revenue.
Read:  Dangote Promo: 64-year-old Bricklayer and 20-year-old Artisan Win Star Prize (Photos)

Factors that may have been responsible for the increase

Cement companies in the country increased prices in order to deal with rising energy costs. Epileptic  power supply, and gas shortages due to militant attacks have led to the companies relying on Low Pour Fuel Oil (LPFO) to operate.

President of the BUA group (an unlisted Cement maker), Abdulsamad Rabiu had recently hinted, that the cement producers were considering a reduction in prices due to an increase in foreign exchange availability and a drop in LPFO price.

Dangote cement was the only company that revealed its production and sales volumes for the period in question. The company witnessed a drop in sales volume from 12970 tonnes in 2016 to 11509 tonnes in 2017, suggesting the increase in revenues may have been due to an increase in price.

Read:  UACN And UPDC Announce Recapitalization And Restructuring Plans
Read:  Lafarge Africa Appoints Lolu Alade Akinyemi As Chief Financial Officer

Year to date, the shares of the three companies are all up, with CCNN and Lafarge Africa out performing the Nigerian Stock Exchange (NSE) All Share Index which is up 37175 year to date. CCNN shares closed at N9.22 last Friday up 84.4% year to date. Lafarge Africa shares closed up N60.75 up 48% year to date. Dangote Cement shares closed N235.51 up 35.56% year to date.






- Advertisement -

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

Customers of Gerhard Schubert GmbH print functional end parts with Ultimaker

Gerhard Schubert GmbH offers customers a digital warehouse and Ultimaker 3D printers to produce customized machine parts locally UTRECHT, NETHERLANDS  - Media...

2019 World Sensors Summit Successfully Concluded, and Zhengzhou Became the "Focus" of the Sensor Industry

BEIJING, CHINA - Media OutReach - 21 November 2019 - The 2019 World Sensors Summit concluded at Zhengzhou International Convention Center on November 11, 2019, which was...

Asian Leaders, Top Employers and Top Brands are Crowned Asia’s Best in Class at Influential Brands® 2019 Asia CEO Summit & Award Ceremony

SINGAPORE - Media OutReach - 21 November 2019 - Influential Brands®, a think-tank research and business platform which identifies, engages and recognises "The Champions...

Lee Kuan Yew School of Public Policy (LKYSPP) Launches Inaugural Festival of Ideas 2019

SINGAPORE - Media OutReach - 21 November 2019 - Sri Mulyani Indrawati, Minister of Finance, Republic of Indonesia will speak at the Lee Kuan Yew School of...

More Articles Like This