29 June 2012

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.

Copyright © 2012 Daily Trust. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.