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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.

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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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TECNO’s POVA is the best smartphone for the fast lane

No matter how fast and busy your world gets, TECNO’s POVA is the innovative partner strong enough to stay with you all the step of the way.

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The fast lane is the new normal. Everyone and everything is always on the move. Even while sitting in one position, our smartphones take us on trips, literary bouncing us from country to country, from one social app to another, and from one source of entertainment to another.

When we aren’t taking trips on our phones and are instead having fun and making memories with friends and family, our smartphones come in handy again. With these magical gadgets, we lock down beautiful memories with the cameras that come with them. I mean, who has time and energy to carry around a digital camera everywhere they go? And how awkward will it be to always whip the camera out to take selfies or take pictures of that beautiful plate of Thai food?

So, you know how infuriating a smartphone with a low battery life can be. You know how maddening a slow smartphone is. And you definitely know how a smartphone with a dead camera is. You will be having the time of your life and your phone will suddenly go kaput on you. Or, imagine your phone freezing incessantly and running at the speed of a snail just when you need to urgently grab an information off it. And imagine meeting your celebrity crush all of a sudden, and yes, you take a picture with him. But. You can’t even post that picture on your Instagram page because it looks like it was pulled out of the 90’s!

Without a doubt, the battery capacity, speed and camera of a phone is highly crucial. And not just in mediocre levels. I mean, any smartphone worth its name these days have these features. I am talking about in levels that are off the chart.

Well, TECNO’s POVA is that phone that breaks the chart. No kidding. You see:

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  • TECNO POVA has a super-duper battery capacity of 6000mAh, with a standby time of 30 days and the ability to play music for 8 days straight, on just a single charge. . Like I earlier mentioned, smartphones have become the sole entertainment hub so much such that without it, it will seem like our life took a sad, empty pause and wouldn’t kick back into action until our phone kicks back on. Now, take a minute to imagine how different things will be with a 6000mAh battery and an 18W Dual IC Flash charger. Your life never has to take a pause.

  • TECNO POVA has a system turbo that runs on Helio G80 processor and ET-Engine 1.0 (Evolving Tech). These significantly upgrade the phones performance; elevate and optimize the sustained gaming experience, network, power consumption, enhance graphic fluency, timely screen response and even image quality. TECNO POVA offers you a lot at the speed of light. You literally breeze through life. TECNO POVA has a hyper engine technology that ensures that your phone always keeps up with you no matter what you are doing or how many apps you have running at the same time.

  • Fantastic Photography Features. TECNO POVA is equipped with 13MP AI Quad Camera, making images that are very vivid and clear even when blown out into a big picture frame. With this device, you will seamlessly capture memories that you will treasure for many years to come.

No matter how fast and busy your world gets, TECNO’s POVA is the innovative partner strong enough to stay with you all the step of the way.

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Wealth.ng launches Ola – A personal wealth advisor on WhatsApp

Artificial Intelligence-enabled chatbot solutions like Ola make it easy to interact with users by providing virtual assistance 24-7.

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Wealth.ng has announced the launch of a personal Wealth Advisor – Ola an AI-powered conversational investments chatbot developed to optimize Investment service delivery via WhatsApp, the preferred social and communication network. Ola aims to make it easy for Wealth.ng customers to Invest and manage their portfolio easily via social media.

WhatsApp allows its users to communicate using less data while protecting shared data (conversations, media content, banking details, etc). Ola also processes authenticated transactions via one-time-passwords (OTPs) sent to users’ registered phone number or email.

Users can chat with Ola through the dedicated WhatsApp Chatbot number +234 904 444 8652 or via the link – https://bit.ly/ChatwithOla. You can perform pretty much all the Investment Services such as: Creating a Wealth.ng account, link your Wealth.ng account, browse investment products, Fund Cash Balance, Invest, View your Portfolio, View Market Summary, Check Order Status and ask Ola a question.

Artificial Intelligence-enabled chatbot solutions like Ola make it easy to interact with users by providing virtual assistance 24-7, just as a human would.

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Here is Ola’s Profile

  • I am Ola – a Chatbot on WhatsApp By Wealth.ng
  • My name Ola means “Wealth”
  • I am an investment strategist.
  • I am easy to chat with; I am able to understand English, as well as other local languages, including pidgin and French. If you speak a bit of Yoruba, Hausa or Igbo to me, I’ll understand that too!
  • I’m your 24/7 chat buddy. You can talk to me any day and at any time.
  • I never take breaks or vacations. My goal is to make investing easier for you.
  • I can tell you all you need to know about Investment products and services available on Wealth.ng
  • I’ll help you create a Wealth.ng account, link your Wealth.ng account, browse investment products and view Market Summaries and you can ask me any question.
  • For security purposes, I verify transactions via an OTP (one-time password) sent to your registered phone number and email.
  • I am always professional, polite and friendly in my responses to you.
  • What’s more, I’m a fast learner and I gain new skills from past interactions (much faster than your average customer service support)
  • Chat with me (Ola) on WhatsApp Now….

Speaking on the initiative, Wealth.ng Digital Marketing Manager, Ifeoluwa Apampa mentioned that the decision to deploy the service is part of Wealth.ng’s strategy to deliver optimum  customer experience through technology while also increasing the investment participation of customers by providing a scalable and efficient service for managing their investments and portfolios.

She further mentioned that African tech users like to be guided, to know what it is all about and how it can benefit them. They also want quick answers to their questions and Ola is well positioned to render assistance to users by helping them understand and navigate Wealth.ng and manage their investment portfolios smoothly.

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Ola will augment Wealth.ng’s existing customer touch points and be available to receive multiple queries and promptly respond with relevant investment information to various customers at the same time. However, customers cannot call the number since it is only reachable through WhatsApp chat.

Wealth.ng offers premium investment products such as Treasury Bills, Stocks, Bonds, Eurobonds, Agriculture and Wealth Cash and you can get all these done with your buddy Ola.

  • Have an account on Wealth.ng and want to view your portfolio? Link your Account with Ola
  • Don’t have a Wealth.ng account yet? Let Ola help you get started.
  • Already Investing and want to do more? Ola is just a chat away.

Ola promises to deliver a consistently great experience every time you chat with her, so if you have any questions, need investment advice or guidance, she’s got you covered!

Chat with Ola on WhatsApp Now

Here’s how to chat with Ola

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All you need to do is:

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  • Save the number +234 904 444 8652 to your phone contacts or use the link – https://bit.ly/ChatwithOla
  • Search for Ola Chabot on your WhatsApp
  • Say hi to Ola
  • Accept Terms and Conditions
  • Get chatting with Ola and invest on the go

It is our desire to ensure that we put Ola everywhere, but for now Ola has been rolled out to customers on WhatsApp and will soon be available on other platforms such as Facebook Messenger and Telegram to guide customers through the wealth building journey.

Chat with Ola on WhatsApp Now

 

About Wealth.ng

Based in Lagos, Wealth.ng is your personal finance platform that gives you access to diverse investment options. It is a user-friendly Self-service platform set up to equip the everyday person with simple tools and advise needed to create wealth while meeting your short and long-term finance needs.

Launched over a year ago, Wealth.ng has over 68,000 customers to its belt, 3 partner Integrations and processed over N4 Billion Investment Transactions.

To learn more about Wealth.ng, please visit www.wealth.ng

Ola is powered by WealthTech, an entity registered with the Securities and Exchange Commission as an Investment Advisor. All investments on Wealth.ng are carried out by Sankore Securities Limited, a Fund/Portfolio Manager as registered with the Securities and Exchange Commission.

Ola is the 3rd AI (Artificial Intelligence) chatbot from the stables of WealthTech Limited (A Subsidiary of Sankore Securities), besides Diamond Bank ADA – launched in March, 2018 and FCMB Temi launched in 2019.

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Trading club in Nigeria for US stock investors

The clubs’ mission is to simplify complex financial information and decisions so that individuals have the confidence to trade & invest better.

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Trading club in Nigeria for US stock investors

30%Club, a trading club created for modern-day investors, wants every Millennial and Gen Z to invest in US Stocks. The club aims to be the go-to platform for educational and advisory resources for stocks and crypto investing. By breaking the knowledge barrier, we serve as a learning bridge for anyone looking to trade these markets. The US Stock market is the largest in the world and so every shrewd investor wants a slice of it. Now anyone can invest on any of the three regulated US Investment apps in Nigeria.

Thanks to the recent wave of fintech startups innovating brokerage services, tech-savvy millennials now have seamless and affordable access to the US stock markets. The timely introduction of Fractional Shares means folks can invest just $10 in their favourite companies effortlessly, from their smartphones. This new breed of enthusiastic investors will be naturally overwhelmed with the technical jargon and confusing terms, so there is a need for an educational bridge.

READ: FG to inject over N198 billion on capital projects in power sector in 2021

The clubs’ mission is to simplify complex financial information and decisions so that individuals have the confidence to trade & invest better.

Business Data Analyst Femi Adeoye notes that according to the data, amateur, retail investors have flooded into the US stock market in droves this year, with popular apps in the States reporting huge spikes in younger users.

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Mirroring the trend in America, globally first-time investors in Asia, Latin America and Nigeria are trading popular stocks like Amazon & Apple, as well as Tesla, Zoom and high-growth companies.

READ: Football: Manchester United net debt rises by 133% to £474.1million

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Users who sign-up with 30%Club have access to a dashboard with educational content, real-time market data, charting tools, instructional videos and podcasts. The platform is free for all to sign up while premium members are charged a fee for access to market intelligence from a few pros like Jim Cramer.

The club is non-custodial which means members handle & manage their capital personally. 30%Club does not invest nor trade on behalf of the public.

READ: Crypto owners robbed of 1,150,000 XRP

Trading is the new cool.

Seyi Atere-Roberts, the clubs’ founder, believes there will be a gradual explosion in active trading among young folks, even though this may begin as a side-hobby or hustle, with a potential for appetite to significantly increase as a regular monthly income. DIY Investing will become the norm, especially with the rising number of investment schemes failing to deliver their promised returns.

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We aim to guide the new generation of investors by providing a simplified learning experience. We implore our members to allocate most of their capital to long-term investing in solid Stocks, ETFs & Bitcoin while the rest to trading trends and momentum. The power of compounding ensures their long term portfolio grows exponentially while their trading portfolio profits from short-term trends bringing in additional monthly income. Investing is a lifelong lifestyle, trading is the new cool and investing in these fascinating assets is going to be as common as TikTok within the next decade.

You can learn the basics in an hour on our simplified Podcast and holla on Twitter or Facebook

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