Ashaka Cement released its first quarter results with nearly flat revenue growth of N6.03billion. Gross Profit dropped 11% to N2.2billion (2011 Q1: N2.5billion). The Cement company also posted Operating Profit of N1.36billion 13.6 dropped compared to the same period last year.
The company also saw a slide in pre-tax profit of 10.2% to N1.6billion. Earnings per share at the end of the period slid 9% to 51kobo. This is a poor results by the company and industry standards, thus the red ink.
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Get Ashaka Cement Q1 results below