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BUA Cement Plc records 39.72% increase in 2020 Q3 revenues

BUA Cement Plc records 39.72% increase in revenues in 2020 Q3. 

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Kalambaina Cement Line 2, BUA Grou BUACEMENT builds Nigeria’s bourse, Investors gain N44.4 billion , Kalambaina Cement, CCNN

BUA Cement Plc reported revenues of N55.29 billion in 2020 Q3 compared to N39.57 billion in the corresponding period of 2019 – 39.72% increase. 

READ: R.T. Briscoe declares N618.9 million loss in H1 2020, as sales of vehicles fall 

Key highlights for 2020 Q3 

  • Revenues increased to N55.29 billion, +39.72% YoY. 
  • Other income increased to N2.13 billion, +18.99% YoY. 
  • Selling and distribution cost increased to N3.29 billion, +29.94% YoY. 
  • Finance cost declined to N1.23 billion, 14.55% YoY. 
  • Pre-tax profits increased to N20.32 billion, +39.86% YoY. 
  • Earnings Per Share increased to 55 kobo, +48.65% YoY. 

READ: Berger Paints Nigeria Plc records 8.96% increase in 2020 9M revenues

Bottom Line: BUA Cement Plc recorded a boost from an increase in cement sales. Profits also increased in the third quarter despite rising expenses, thanks to increased Other income and reduced finance costs 

Adeyemi holds a PhD in Accounting Sciences. He has worked in the Educational Sector and as an Independent Consultant.

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Rak Unity Petroleum Company Plc Posts N63 million loss in 2020 FY results

Rak Unity Petroleum Company Plc reported revenue of N1.41 billion representing a 68.14% decline from the N4.42 billion revenue reported a year earlier.

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Rak Unity Petroleum Company Plc released its 2021 FY results reporting total revenue of N1.41 billion representing a 68.14% decline from the N4.42 billion revenue reported a year earlier.

  • Operating expenses during the year was N149.65 million in 2020 compared to N221.89 million in 2019. –32.56% YoY
  • The company reported a loss after tax of N63.02 million in 2020 compared to N14.52 million loss after tax in 2019.
  • It reported a loss per share of N1.11  in 2020 compared to N0.26 loss per share reported in 2019.
  • No dividend announcement was made in their press release.
  • The company share price of N0.30 unchanged YTD.

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Conoil posts 23% post-tax profit decline in 2020 FY results

Conoil Plc reported a revenue of N117.47 billion representing a 15.95% decline from the N139.76 billion revenue reported a year earlier.

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Conoil Plc released its 2021 FY results reporting revenue of N117.47 billion representing a 15.95% decline from the N139.76 billion revenue reported a year earlier.  

  • Operating expenses during the year was N7.64 billion in 2020 compared to N9.68 billion in 2019. 20.9% YoY 
  • The company reported a profit after tax of N1.52 billion in 2020 compared to N1.97 billion in 2019. –22.97% cut YoY.  
  • It reported an earnings per share of 219 kobo in 2020 compared to 284 kobo earnings per share reported in 2019. 22.89% YoY. 
  •  No dividend announcement was made in their press release. 
  • The company share price of N20.85, up +0.72% YTD. 

See link to results here

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