Nigeria’s 3 major cement companies have made a total of N574.5 billion in revenues for the six months ended June 2017. A N172.5 billion increase compared to the N402 billion made in the corresponding period in 2016.


Dangote cement had the lion share with revenues of N412 billion in 2017, a N120 billion increase from the N292 billion made in the comparative period for 2016.
Lafarge Africa had revenues of N154 billion in June 2017, a N47 billion increase compared to N107 billion made in June 2016.
CCNN had the smallest share with revenues of N8.5 billion in June 2017, a N2.1 billion increase compared to N6.4 billion in June 2016. All 3 companies posted increases in revenue.
Factors that may have been responsible for the increase

Cement companies in the country increased prices in order to deal with rising energy costs. Epileptic power supply, and gas shortages due to militant attacks have led to the companies relying on Low Pour Fuel Oil (LPFO) to operate.

President of the BUA group (an unlisted Cement maker),Abdulsamad Rabiu had recently hinted, that the cement producers were considering a reduction in prices due to an increase in foreign exchange availability and a drop in LPFO price.

Dangote cement was the only company that revealed its production and sales volumes for the period in question. The company witnessed a drop in sales volume from 12970 tonnes in 2016 to 11509 tonnes in 2017, suggesting the increase in revenues may have been due to an increase in price.

Year to date, the shares of the three companies are all up, with CCNN and Lafarge Africa out performing the Nigerian Stock Exchange (NSE) All Share Index which is up 37175 year to date. CCNN shares closed at N9.22 last Friday up 84.4% year to date. Lafarge Africa shares closed up N60.75 up 48% year to date. Dangote Cement shares closed N235.51 up 35.56% year to date.

SOURCE: https://brandspurng.com/despite-recession-cement-companies-report-over-n570-billion-in-revenue-so-far-in-2017/

In the midst of these Macro economic challenges...

road construction?

Baba God no matter how hard it is for Nigerian, let it be EASY for me and dat human reading this

This is private money.
Has nothing to do with us.

Don't get it twisted...

Majority of that cement was used in patching the substandard roads around the country not for building.

cement is too expensive joor... what if we import it nko...... even with the reduced price of diesel

Cement is N2,700 now.. Make dem do drop Price below N2,000 abeg

Need to start my project soon

Since real estate seem to be the most viable long run investment, every patient investor seem to make a stake in it.

the capitalists can only pay 50kobo per share as dividend in d first quarter.dey steal from d banks and pay nonsense.

federal government things.

God, bless me oh! I want to be one of those declaring massive yearly profits from the last quarter of this year and forever.
Answer my call God...Nigeria is a land filled with milk and honey for winners, and a place of problem and complaint for ONLY losers.

why dem no go make bumper profit, when we pay #2700 for a bag. Cement na recession proof na. Everybody want build house because nobody want rent anymore and i no blame them.

I don't know why the price of cement is double of what is obtainable in the international market.... $5 in the international market and its $10 here... May God deliver us from these ppl.

With the speed of building going up everywhere, I am not surprised.

NwaAmaikpe:


Don't get it twisted...

Majority of that cement was used in patching the substandard roads around the country not for building.

I don't think so, the number of building projects is much. I have used more than 300 bags of cement in August 2017 alone. Need to buy another 240 for a decking in Onitsha tomorrow.

This recession should actually bring the best out of us, around Lagos and some part of Nigeria, massive investment in building project is on ongoing. In no distant time, this country will get better God willing. Let us all continue to contribute to her growth. God bless Nigeria.

My land is just lying fallow. They should drop the price so one can build in peace.

Really

Not impressed by the news.
When doller was 410-420 naira/$ Dangote Cement sell for #2600 and still at that amount till date even when CBN said it keep injecting doller into the market to make life easy for Nigerians, same goes for Crack tiles and every other building materials.
Buhari need technocrats in some positions and not politicians or politics.

Cement is overpriced!

This is quite some good news. But I think d higher dis revenues are, d more receivables dey have. Revenue doesn't culminate 2 liquidity.
I bet chunk of dem are 4rm constructn of roads which is largely dependent on govt.
But it's a good start.

To a lot of Nigerians, recession is just a word!

It was due to d increase in d price of cement, last yr a 50 kg bag of cement was sold for #1600 but since Nov last yr till now 50kg bag of cement is #2700. Dis is clear evidence dat d cement factory revenue most also be increased .

It means more revenue(tax) to the government also.

We practise an unregulated capitalism where exploitation is the order of the day, coupled with an irresponsible government that lacks the will to fight for the interests of the citizenry. At the end of the day one man remains the richest in Africa while majority of his people remain poor because the little they had have been taken when they needed to build what they lacked. It is a pity!

Because they are cartel that are dangerously manipulating the price of their products at the expense of the suffering consumers. Despite the fact that they blamed high dollar rate for high cost of cement this year, but with dollar down at the moment, cement prices still skyrockets on daily basis.

Why won't they make a kill in a wild west market that they rule?

holatin:
Baba God no matter how hard it is for Nigerian, let it be EASY for me and dat human reading this

Selfish being so it is only human beings that can read

Why not spare a little prayer for the jinns also reading this.

alexistaiwo:

Selfish being so it is only human beings that can read

Why no spare a little prayer for the jinns also reading this.

if I slap you eeh, you will be menstruating from your navel.