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Home Opinions Blurb

Ashaka Cement Post N3billion PAT For FY 2012

Ugodre Obi-chukwu by Ugodre Obi-chukwu
May 8, 2013
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Ashaka Cement released its 2012 full year audited accounts showing revenue increased 5% to N21.8billion. The company also saw a rise in Gross profits rising 11% to N8.3billion whilst operating profit also rose 6% to N3.9billion. Profit after tax at the end of the period rose 8.3% to N3.1billion.

key Highlights

  • Gross Profit margin improved due to the relatively low rise in gross profits

  • The 15.7% year on year rise in operating expenses also took a larger chunk of gross profit this year

  • The company balance sheet showed no bank debt

  • The company generated N3.3billion in operating cash flows and only spent N895million of it on dividends last year (2012)

  • The company announced in December last year that it intends to increase its existing capacity of 900,000 tonnes to 3million tonnes in 2013

  • Earnings per share increased 8% to N1.43

  • The company currently pays higher tax chalking off 43% of PBT in 2012 and 30% in 2011

  • The balance sheet seemed quite different from what was posted on the website of the NSE following their 2012 Q1&Q2 earnings report

  • Share price is currently N23.3 and has increased 131% in the last one year. P.E ratio is about 14x whilst price to book ratio is about 1.05

 

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Ashaka Cement 2012 FY audited accounts was posted on the website of the NSE

Tags: Ashaka Cement PlcEARNINGS REPORTNigerian Company Results
Ugodre Obi-chukwu

Ugodre Obi-chukwu

Ugo Obi-Chukwu "Ugodre" is the Founder, Publisher, and Chief Analyst of Nairametrics, a leading business and financial news online platform in Nigeria. Ugo is also the Chief Editor of the Nairametrics “Blurb” Opinion pages. Follow Ugodre on Twitter @ugodre and Instagram @ugodre Email: ugodre@nairametrics.com

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