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BUA Cement Plc posts impressive unaudited H1, 2020 financial results

Revenue increase by 12.7% to N101.3 billion; Profit After Tax (PAT) rises by 13.74% to N34.82 billion.

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One of Africa’s largest cement producers, BUA Cement, has announced an impressive 2020 half-year results declaring revenues of N101.3billion and a Profit After Tax of N34.82billion representing an increase of 12.7% and 13.74% respectively from the corresponding period in 2019. This was contained in a filing to the Nigerian Stock Exchange.

Speaking on the results, Yusuf Binji, Managing Director of BUA Cement said that the continued impressive performance in 2020 despite the challenging operating environment occasioned by the COVID-19 pandemic, was a pointer to the value and strength of the BUA Cement brand and product offerings as well as a nod to the excellent implementation of the company’s Business Continuity Plan which ensured that BUA Cement was able to withstand the impact of the pandemic in the period under review.

“Our resilient performance continues to showcase the value and strength in our product offering alongside our strategic business model. Our revenues increased by 12.7% to N101.3 billion from the corresponding period in 2019 whilst Operating profits increased by 7.0%, from N38.1 billion in H1’2019 to N40.8 billion in H1’2020. Equally, EBITDA margin improved in this quarter to 48.1% – an improvement from 45.6% in Q1, 2020.”

“In a bid to further drive cost efficiencies and sustainability, we entered into strategic alliances for the supply of Liquefied Natural Gas (LNG) at the Kalambaina, Sokoto State and the management of our mining operations. Given these deliberate and strategic choices amongst other cost management efforts, we continue to combine development and innovation into our offerings and activities,” Binji added.

On the impact of the pandemic on the business, Binji noted that, “despite the prevailing economic conditions, we are quite optimistic about the future because it affords us not only with the opportunity to further evolve our business model but also provides an opportunity for accelerated development. We will continue to push to new markets aided by a focused distribution strategy.”

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 It should be noted that BUA Cement has also been actively involved in alleviating the impact of the virus on the most vulnerable in society while also supporting the government’s efforts by providing foodstuff, PPEs and medical equipment to host communities amongst others.

 

  1. Financial Highlights

  • Revenue increases by 12.7% from N9 billion in H1’2019 to N101.3 billion, as at H1’2020
  • EBITDA increases by 5.8% from N8 billion in H1’2019 to N47.4 billion, as at H1’2020 (Quarter-on Quarter (q/q), EBITDA margin increases from 45.6% in Q1’2020 to 48.1%, as at Q2’2020)
  • Operating profit up 7.0%, from N1 billion in H1’2019 to N40.8 billion in H1’2020
  • Profit before Tax (PBT) increases by 9.8% from N7 billion, as at H1’2019 to N39.2 billion, as at H1’2020.
  • Profit after Tax (PAT) up by 13.7%, from N61 billion in H1’2019 to N34.8 billion, as at H1’2020,
  • Earnings Per Share (EPS) increases by 14.4% from N90 kobo in H1’2019 to N1.03 Kobo, as at H1’2020

 

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  1. Operational Highlights

  • Cement volume dispatched up 7.9% from 2,282 kt in H1’2019 to 2,463 kt, as at H1’2020; underpinned by growing market acceptance, our COVID business continuity plan and particularly, a business environment not inundated by the Coronavirus pandemic
  • To boost energy efficiency and reduce energy costs, we entered into strategic alliances for the supply of Liquefied Natural Gas (LNG) for the Kalambaina operations and management of our mining operations
  • Continued push to ‘new markets’ aided by a focused distribution strategy

 

Conference call details

BUA Cement Plc will hold a conference call for analysts and investors on 06 August 2020 at 14:00hrs Lagos (09:00hrs New York, 14:00hrs London, 15:00hrs Johannesburg). To pre-register, please click on this Registration link to receive the dial-in details, which includes the passcode.

A copy of the presentation will be made available before the call and can also be downloaded from the Company’s website at http://www.buacement.com/presentations/

About BUA Cement Plc

BUA Cement Plc is Nigeria’s second-largest cement company and the largest producer in its North-West, South-South and South-East regions; with a combined installed capacity of 8 mmtpa and with plans underway to increase existing capacity to 11 mmtpa, through the commissioning of a new 3 mmtpa plant by the first half of 2021 in Sokoto State, Nigeria. BUA Cement operates strategically from Okpella, Edo State and Kalambaina, Sokoto State.

BUA Cement Plc is the third most capitalised company on the floor of the Nigerian Stock Exchange.

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BUA Cement is committed to quality – a differentiating attribute, driven by its people, innovation and technology; and positioned to solving Nigeria and Africa’s challenges while driving economic growth and development.

More information can be found at www.buacement.com

NM Partners represent articles published in paid partnerships with corporate organisations. They include press releases, targeted content, and other forms of corporate communications on behalf of our Paid Partners.

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Remitano launches Mission, a new online job market for crypto lovers

Remitano introduces Missions, a simple, short-term task platform that anyone can do and get paid for.

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Remitano, global P2P crypto exchange, has just launched a new online job market – Mission, the platform’s latest element in its push to realize its full potential and open a new window of employment opportunities to crypto users.

Missions are simple, short-term tasks that anyone can do and get paid for. For example, “Share a Remitano post on Facebook.” The new online job market will provide a range of ‘easy and quick apply’ jobs (mission) for crypto lovers wishing to have additional earnings. This way, applicants can skate through the application process and land jobs fast.

As of the August 2020 announcement, Remitano already released a set of guidelines for users looking to take advantage of the offerings. The guide includes:

  • Highlights of the missions
  • Steps to apply
  • Application requirements

Complete a Mission and Get Instant Crypto

While the internet has become the most vital channel for personal recruiting, and people consider different aspects of a job to be fulfilling, some common elements include work-life balance, growth, and a strong work community. Remitano’s newest mission is geared towards promoting similar values and keeping like–minds meaningfully engaged with the crypto community.

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Furthermore, Remitano is thrilled to collaborate with greenhorns interested in building along with it. Hence, if you’re new to cryptocurrency trading and wish to maximize your earnings or want a legitimate way to get instant crypto without purchasing it, you can create a free Remitano account, and join the mission for the next job on hand.

Why You Might Want to Join Remitano’s Mission

  • A side job: If you’re looking to expand your income or even monetize your free time, missions are ready for the taking. You will be poised to earn extra cash by helping to present Remitano’s ideas across the internet.
  • More remote flexibility: with more people working from home, having a practical and comfortable working space is more important than ever. Remitano encourages this by providing digitized work environments for its employees’ remote adaptability.
  • Unlimited geography: missions are for everyone, no matter where they are. Job seekers can access available online jobs from anywhere and apply for roles they fit into.
  • Streamlined application: applicants only need to prep and submit requisites and certificates, allowing you to walkover face-to-face interviews
  • Instant credit of cryptocurrency: once a mission is completed, successful candidates will receive instant crypto remuneration to their Remitano wallets.

About Remitano

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Remitano is a product of Babylons Solutions Limited based in Seychelles. As a fast-moving marketplace, Remitano’s purpose is to offer a robust, quality trading experience to all users. With necessary safety standards in place, buyers and sellers can come together, store, trade, and retrieve assets, thus minimizing challenges common to crypto exchanges.

Launched in 2014, Remitano is a global cryptocurrency exchange serving international markets, such as Malaysia, China, Nigeria, Vietnam, Australia, Cambodia, and Indonesia.

Got Questions?

Reach out to Remitano via:

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Are SMEs the solution to Nigeria’s wailing economy?

MTN Nigeria commenced The Revv Program to mitigate the effects of the pandemic on SMEs across Nigeria.

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The outbreak of the COVID-19 pandemic this year has been a major disaster to several sectors including the financial sector. The ensuing lockdown affected the global economy tremendously. SMEs in Nigeria were among the worst hit.

According to a survey published by the Fate Foundation and BudgIT on the ‘Impact of COVID-19 on Nigerian SMEs’, 94.3% of the total 1,943 respondents said the pandemic has negatively affected their business.

Back in 2017, the Small and Medium Enterprises (SME) sector comprising approximately 40 million SMEs contributed an estimated 48% to Nigeria’s Gross Domestic Product (GDP), and employed 84% of the country’s entire workforce, according to a National Bureau of Statistics (NBS) report released in 2018.

GDP is an important indicator of a country’s economic power. According to the NBS, Nigeria’s 2017 GDP was worth about N113.7 billion. Of that amount, the SME sector contributed 48%; that’s two percent short of half the total amount. This value provided by SMEs, which ensures the smooth running of the country, is why they are referred to as the bedrock of the economy.

But this was before the pandemic and the accompanying lockdown that resulted in an unprecedented economic tailspin affecting business operations, consumer spending, loss of jobs, and livelihoods. According to the Fate Foundation and BudgIT survey, off the businesses still managing to stay afloat, 72.1% cannot find the cash flow to continue running their business, and 59.2% are struggling to increase their revenue base.

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When asked in what area they want to be supported, 72.1% answered with cash flow; 67.7% said they’ll need support to make sales; 89.4% want the federal government to provide them with funding; 33.8% need access to markets; 74% want the private sector to support with funding; and 62.9% want business support.

Recently, MTN Nigeria commenced an initiative tagged The Revv Program to mitigate the effects of the pandemic on small businesses across Nigeria. Working with relevant stakeholders, subject-matter experts, and the company’s executives, the program aims to support over 10,000 small businesses.

At the virtual launch, Chief Executive Officer, MTN Nigeria, Ferdi Moolman, called on large corporates to join MTN and “strongly position themselves to support SMEs as a foundation to the growth of a stronger economy going into 2021 and beyond”, saying “The Revv Programme is our way of standing with SMEs in their journey to rise through these challenging times.”

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Adopting a four-pronged approach that includes masterclass sessions, support with productivity tools, access to market and advisory initiatives, the programme seeks to help SMEs relearn, readjust, and retool their businesses. The masterclasses which have been held weekly since August 18 focuses on core areas of business management as part of a broader strategy to uplift the SMEs.

This will be followed by the selection of The Y’ello 200 (two hundred top-performing SMEs from the sessions) that will enjoy exclusive access to a broad range of technology and productivity tools and services absolutely free, for a period of six months. They will also receive productivity support to enhance their business performance, in addition to access to MTN’s media assets for product marketing, which will open up new market opportunities for their business’ growth and expansion.

The majority of the small businesses affected by the pandemic are facing funding problems.  The first masterclass, themed “Accessing the Right Funding for Your Business”, addressed this need. MTN Nigeria’s Chief Financial Officer (CFO), Modupe Kadri, together with other subject-matter experts threw light on ways SMEs can access funding from investors, and the role a properly managed cash flow system plays. “Anybody that wants to advance some securities to you will want to know the strength of your cash flow management; how you generate the income streams and how you’re going to keep the lead on that. The same thing also applies to your costs”, Kadri said.

In a subsequent masterclass themed, “Setting Up Your Business for Success: The Technology Advantage”, the Chief Enterprise Business Officer of MTN Nigeria, Lynda Saint-Nwafor shared that the concern for SMEs is at the core of The Revv programme. “We have the interest of SMEs at heart and whilst we do not provide all the services that are applicable, we are willing to partner with organisations that provide access to technology tools that are relevant to SMEs on a platform that makes it easy for them to access at the right price”, according to Lynda.

The Revv Programme will not be the first time MTN is supporting small businesses in the country. In 2018 the company launched the viral “Man In The Box” campaign with commendable outcomes for SMEs in the country. The idea was to support small businesses with technology solutions and create awareness for them by showcasing their businesses in the “Box” to the entire world.

For 24 hours and for free, selected businesses were showcased within the “Box” on LED screens, and across MTN’s social media platforms. Man In The Box was a huge success; it awakened Nigerians to the enormous untapped possibilities that litter the SME space. SMEs that were featured in the “Box” told amazing testimonies of how they witnessed growth and increased patronage of their businesses.

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As we transit to a post-COVID environment, small businesses that had their business affected by the pandemic and are looking for new sources of income will have to pay attention to the programme. The good thing is, it does not matter how bad the pandemic may have affected their success, business will soon shape up for SMEs, especially the 10,000 small businesses to benefit from The Revv Programme. And with that, they will continue to provide the much-needed backbone for Nigeria’s economy.

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How to open free Bitcoin wallet in Nigeria

Cardtonic is one of the platforms that provides a free bitcoin wallet address in Nigeria.

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How to open free Bitcoin wallet in Nigeria

When it comes to cryptocurrencies such as Bitcoin, a bitcoin wallet address is very essential. A Bitcoin wallet address is made up of a string of 26-35 alphanumeric characters, that allows you to send and receive bitcoin.

Any bitcoin address can be used to transfer cryptocurrency to any other address on the network, provided the sender’s wallet software supports that address type. All addresses represent a destination on the Bitcoin network.

READ: BTC bounty: 69,000 Bitcoins worth $700 million waiting for you

How To Open Free Bitcoin Wallet In Nigeria

Creating a bitcoin wallet in Nigeria is very easy. Wallets come on different platforms with different features in Nigeria. However, it’s advisable you always go for the best. This guide will help you to find the best Bitcoin wallet in Nigeria for you.

How Do I Get A Free Bitcoin Wallet Address In Nigeria?

There are various ways to get a free wallet address in Nigeria. Prominent among them is by signing up to a platform that offers a free bitcoin wallet address.

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Cardtonic is one of the platforms that provides a free bitcoin wallet address in Nigeria. It is an online broker trading platform that facilitates the buying and selling of bitcoin, as well as gift cards. The bitcoin/gift card trading platform is designed to aid the buying and selling of bitcoin.

READ: Ethereum whale transfers 200,000 ETH, as price drops to $387

Get Free Bitcoin Wallet Address on Cardtonic

Cardtonic now offers Bitcoin Wallet Address for all users. The idea is that for each Bitcoin transaction, users will generate a unique, single-use address to provide to senders.

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Why Cardtonic Offers The Best Bitcoin Wallet Address In Nigeria

Cardtonic has a nationwide reach, serving traders across Nigeria. Safe to say that it is also one of the largest gift card and Cryptocurrency exchange platforms in Nigeria.

Cardtonic deals in bitcoin and gift cards exchange, and at the same time provides a bitcoin wallet address that is of blockchain standard.

It is also one of the foremost bitcoin trading sites in Nigeria as it has greatly simplified the process for customers. The competitive advantage ranges from offering one of the fastest transaction times to having an extensive customer support system that is always on hand to provide assistance, not leaving behind the amazing bitcoin exchange rates. Thus, Cardtonic is raising the bar on bitcoin trading.

READ: Why Africans are fast using Bitcoin for payment transfers

Therefore, with all the ease around bitcoin trading on Cardtonic, whether you are trading little or large, you’d like to get value and ease for them. And apart from the fact that there are a limited number of platforms that have such features in Nigeria, not every service can be trusted in terms of security, efficiency, and exchange rate. All these can be guaranteed with Cardtonic.

How To Create Bitcoin Wallet Address On Cardtonic

To create an address on Cardtonic, follow the steps below:

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  1. Visit the website or download the mobile app on your android or iOS.
  2. As a user, proceed to the bitcoin trade page and generate your bitcoin address
  3. The address becomes permanently yours. You can receive bitcoin into your address at any time.
  4. Any amount of bitcoins sent to your address will be automatically added to your naira balance at the corresponding rates.
  5. Bitcoin trades on Cardtonic are completely automated and require no human or manual intervention.

Get Started

Download Cardotnic Mobile App: https://play.google.com/store/apps/details?id=com.cardtonic.app

Website: Cardtonic.com

Mail: Support[@at]cardtonic.com

Phone/Whatsapp: 07060502770

Instagram: @Cardtonic

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