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

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Cement

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.
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