₦airaland Forum

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Q1-2014: Steep decline in distribution
expenses
boosts bottom-line. Revenue fell by 2.7%,
while net income spiked by 85%YoY.
Cement Company of Northern Nigeria
(“CCNN” or the
‘’Company) on Wednesday 29th April
2014 released its
unaudited Q1 2014 result. Revenue was
down by 2.7% to
N4.88billion ($29.78M) from
N5.02billion ($30.61M) While
Profit after Tax widened by 85% to
N699.02million
($4.26M) from N376.61million ($2.30M)
YoY.
Given the above, it is our opinion that if
CCNN continues to consolidate on its near
monopolistic advantage in the North
Western
space, without playing for size with its
bigger competitors, then the company’s
revenue is sustainable. Furthermore the
current owner
of the company has also commenced the
construction of a new cement plant in the
South -South zone; though it is yet to be
determined if the earnings from the new
cement plant will be consolidated with the
earnings from CCNN, we like the strategy
of
building new smaller plants in different
locations to meet the local market needs
than install a huge production capacity in
one plant
which will increase distribution cost if the
company wants to break new market
grounds beyond its immediate location
It is our opinion that building excessive
capacity in one plant may become an
inefficient strategy in the long run
because of the
abundance of limestone deposits in
different parts of the country which can
give rise to smaller more efficient plants
springing up in
different locations and producing enough
to become major threats to the bigger
plants, who may be burdened by high
operating
expenses. We also think that the strategy
of building smaller plants in different
locations may eventually lead to the
actualization of
the much anticipated reduction in cement
prices in the country because of the
heightened competition that it will create,
considering
that the impact of distribution cost will
reduce significantly

click link for full report

http://
morgancapitalgroup.com/pdf/
morgan_capital_equity_research_ccnn_q1_2014.pdf

HARDUBUY: U are a waste of sperm!...

Ur whole generation is a waste

Islam is a curse to mankind i swear.

Akshow: confirmed news. I heard this zakzaky followers that wear black took to the streets ready to cause chaos in demonstrations for their Muslims brothers killed in Gaza. very hilarious but true.

so soldiers were deployed around the city to keep them calm.


My question is should we term their erratic behavior as stupidity, ignorance or just plainly silly? Have they protested for their muslim brothers killed in kaduna boko haram blast two days ago? No! But they have the strength to protest over a war thousands of miles away in another country. They are indeed very foooolish. Abeg make them give them visa go Gaza go riot.

Stupiid set of people they are..wetin concern Nigerians and gaza again. Them no riot say bokoharam kidnap over 200school girls na wetin no concern dem dey riot for. Ode people.

This is one of the major problems of islam..TOTAL brainwash.

Allah will be laughing at them now

Michael11stock: Good nite and swtdrms my Vgirl

Efrebor efrebor, you go wound oh!!!

Michael11stock: ha ha ha ha dragonking abi? Lol he is a termite too

^^^Na so?

but see as bigass just dey watch all my movements towards vgirl since morning. chiaaa. market don spoil now. Thank goodness say vgirl no dey around atleast she never know say madam at the top dey watch.

Abeg make next page reach fast fast

bigass: I still dont want to believe all men cheat.

Na wah o..I thought you travelled?

Michael11stock: on to what na dragonking so big ass don travel abi

Bros make i just try my luck na

No worry i go give you 10,000units of oando to cool ya body.

Dexterax: Start by asking her what the 'v' stands for before you continue bruv...I'm concerned for your portfolio, esp those units of Forte Oil.

This dexterax na very badt guy

How your eyes take see the v part still baffles me.

Am beginning to get attracted to vgirl

vgirl: Dragonking, ur smile is mischievoous αϞ∂ would rather.  to him. i will prefer a woman wrapper.

Ok..dont come crying to me when michael11 runs along with joysmart

Michael11stock: oh Vgirl u very welcome sweety, my friends like Aks, Stockbull, dragonking, imannuelo, uboma, dexterax,9free, still counting sometimes call me Pboy also

@vgirl, Na lie o. Na woman wrapper we dey call am not Pboy.

**enters okada and quickly zooms off**

Dexterax: Emma & l hardly agree on a lot of investment/speculation issues, even though I enjoy my arguments with him.

As for the Casino-view of the NSE (or any exchange), I agree with peterichy's view to a degree...

Gbam!!

Agbalowomeri: Even in the lecture you dey think of money?

Make im no go mistake write oando transcorp conoco for im exams

Omexonomy: guy you harsh too much

immanuello: Personally i will say nse engine used to be in my pocket but i couldnt checked then because of the lecture i was having.

feelamong: Bros easy naa....no be everybody get access to Meritrade or morgantrade naa..

anyway its good cos it also alerts us too on some particular stocks that might interest us with new info..

Ok

Omexonomy: my guy no vex i am using a china phone to browse

Sell your Oando and upgrade to Ipad

mercylicious: Fcmb, sterling, stanbic ibtc , ccnn result out. C ni leasing now 52k.

Ccnn still dooing me proud. Puleeeaaase, let me know wen fuel finish for dis bus. Make I use dis one take cover u eterna. Any news on d acquisatn?

Transcorp is reversing, now 5.5, any news? Dexter, evil spirit and mkt crash, please no near dis bus.

Oando now 25naira. Smh. On a serious note, I am not sure there will be anymore l to enter the oando bus wen d deal is sealed cos by now, everybody suppose don enta.

Please sumone on itrade shld give me data for transcorp as re bid price and offer.

Nse is a casino. Qed.

Peterichy stated this about a month ago and was blasted by Emma. The funny thing is that most people then supported Emma.

immanuello: Pls can any bnsitl tell me current price of learnafrica.Thanks as i await ur responses.

Omexonomy: sombody shoul d please tell me the price of UNILEVER

I dont want to sound rude but is there anything wrong with you guys checking this info yourself. It is becoming annoying. @omexonomy na you start this thing o

myjoy08: First registrar in Iganmu, Lagos.

thanks bro

Please who is the registrar of fidelity bank?

Michael11stock: DRAGONKING BELIVE YOUR DRAGON

Do you actually know what my dragon is?

Ask bigass

I am just seeing different prices here. Which one man go come believe

Dexterax: I'm getting tired of owning minority stakes in Nigerian companies. Really. All these chin chin don tire me.

It's time to take this shii to the next level mehn.

No go rob bank oh

striktlymi: The lady in red pants seem to have a fake 'pregnancy'.

Why do you say so sir?

Michael11stock: na she be my love na " Joysmart is here with me self, we dey try trade but every thing is down down down, i am holding her at the same time going down

E bi like say you don dey learn bad bad thingz from me and bigass

What are your thoughts!



https://www.youtube.com/watch?v=YJjtDnMkQu8