CORPORATE BRIEF: CCNN (SOKOTO CEMENT Plc) REVENUE GREW BY 47.7% COMPARED TO Q3 2016

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Revenue grew by 47.7% compared to Q3 2016 due to a hike in cement price late in 2016. This created more impact to revenue in the current result. 

The firm experienced a dip in its Finance cost as a result of a reduction in debt profile.

Key Highlights: 

  • Revenue grew by 47.7% compared to Q3 2016 due to a hike in cement price late in 2016. This created more impact to revenue in the current result.
  • The firm experienced a dip in its Finance cost as a result of a reduction in debt profile.
  • In addition, the firms Q3 2017 net income which came in at ₦2.0 billion has already surpassed the Full year net income achieved in 2016. This may result to an increase in dividend that will be paid in FY 2017.
  • The firm engaged a cost optimization strategy which resulted in a reduction in the operating expense ratio which contributed to the stellar performance on the bottom line.
Kindly click on this  link  to see full details on the Corporate Brief of the firm.
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