Daily Trust (Abuja)

Nigeria: AshakaCem Declares N21 Billion Turnover

Gombe — Ashaka Cement Company yesterday declared N20.780 billion gross turnover for the financial year ending December 2011 compared to N19.154 billion it declared in 2010.

The company also declared N3.6 billion profit after taxation for the year, representing 19 percent increase from N3.005 billion declared previously.

Chairman of the company Alhaji Umaru Kwairanga said at the company's Annual General Meeting (AGM) in Gombe that the board has approved the payment of 40kobo dividend on each ordinary share to shareholders, representing an increase of 33 percent from the previous year.

Managing director of the company Mr Neeraj Akhoury said the company will soon start its expansion drive of 1.3 milion tones capacity target.

He said the company has expended N175 million on its host communities as part of its corporate social responsibility and assured of their resolve to commit more on education, health and basic infrastructure.

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