Ashaka Cement Declares 39.5% Drop in 2015 Profit, Proposes 15 Kobo Dividend

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Ashaka-CementCement producer, Ashaka Cement Plc on Friday said its profit after tax (PAT) for the period ended December 31, 2015 dropped 39.5 percent to N2.76 billion from N4.56 billion posted a year ago.

In the same vein, pretax profit declined 38.9 percent to N3.20 billion from N5.25 billion recorded in the same period of 2014.

Revenue of the cement maker dropped from N21.13 billion in 2014 to N17.41 billion in the review period of 2015; representing a decline of 17.6 percent, Ashaka Cement said in a filing with the Nigerian Stock Exchange (NSE).

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The board of directors of the company proposed a dividend of 15 kobo per share to investors and said qualification date and closure date has been scheduled for April 25 and April 26, 2016 respectively. While the company announced that Annual General Meeting (AGM) and payment date for May 10 and May 11, 2016 accordingly.