The firm rode on a sweeping boom in building and construction that stoked cement demand and price hike.
by PREMIUM TIMES this month confirmed a recent hike of N300 in the factory price of each bag of the binder leaving BUA’s factoryThe company looks to up output by as much as 3 million metric tonnes come year-end, the entire bulk coming from a new plant in Guyuk in the north-east.
For the half-year period, pre-tax profit climbed 26.9 per cent higher to N49.7 billion, just as profit after tax was stronger by one-fourth at N43.4 billion.Yet, there was a slight concern raised on the asset side of the financials, coming from a depletion by almost half in total current assets. Here, cash and short term deposits tumbled from N123.821 billion to N57.326 billion, mounting pressure on the company’s capacity to meet its urgent financial obligations when they fall due.
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