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