Benue Cement Plc Stock

[oluallu]

what is the vaue of benue cement ordinary shares purchased in early 1990;s and have been left inactive due to the fact that i now live outside Nigrria.The number of shares purchased was375 ordinary shares. Can you advise.

[hispy99]

For your reading delight

[hispy99]

Your weekend reading...

[BLUEMONEY]

Originally Posted by hispy99

Your weekend reading...

Thank you vey much.

[kenebobo]

I dont know much about this company, The only thing I can remember is that the company was about to be sold to dangote cement or so and eversince then i lost track of this company.

Does the company pay dividends regularly?

[Geeman]

Originally Posted by kenebobo

I dont know much about this company, The only thing I can remember is that the company was about to be sold to dangote cement or so and eversince then i lost track of this company.

Does the company pay dividends regularly?

Company was sold to Dangote. No dividends for some years now. Trying to pay off huge outstanding debts, but company has been consistent in giving 8:1 script shares. How did I know? I have collected that twice now.

[kenebobo]

Originally Posted by Geeman

Company was sold to Dangote. No dividends for some years now. Trying to pay off huge outstanding debts, but company has been consistent in giving 8:1 script shares. How did I know? I have collected that twice now.

Thanks alot for the info Geeman

[hispy99]

Latest Market Info
BCC: 2ND QUARTER ENDED JUNE 2008
BENUE CEMENT CO. PLC 2ND QUARTER ENDED 30/06/08. TURNOVER 08 N4.10B 07 N3.01B

PBT 08 N1.46B 07 N1.43B

EI 08 NIL 07 N128.7M

PAT&MI 08 N1.46B 07 N1.56B

[chokit]

Benue Cement records marginal slip profit NIGERIA Sep 25, 2008

Benue Cement Company (BCC) Plc recorded a mixed-grill in the first half as substantial growth in sales failed to lift the bottom-line, which has been on the decline in the past two years. Interim report and accounts of BCC for the half year ended June 30, 2008 showed that sales rose by 32 per cent but pre-tax profit dropped by 6.3 per cent. The report showed a turnover of NGN4.1bn in first half of 2008 compared with a turnover of NGN3.1bn recorded in comparable period 2007. Profit before tax however stood at NGN1.5bn in 2008 as against pre-tax profit and extra ordinary items of NGN1.6bn in 2007. The report however indicated that the cement company might improve on its performance in 2007 this year. Benue Cement Company had missed its profit projection for the second consecutive year in 2007 as audited report of the cement company showed that a major reversal in the profit-making capacity halved profit to recent low.
Audited report and accounts of the company for the year ended December 31, 2007 showed that profit before tax dropped by 52 percent while net earnings fared worse with a drop of 60 per cent. The company’s sales also dropped by 9.3 percent. Besides, the intrinsic profit prospect of the company weakened notably in 2007 as pre-tax profit margin dropped from 64 per cent in 2006 to 34 per cent in 2007. The report showed that sales dropped from NGN6.03bin in 2006 to NGN5.47bn in 2007. Profit before tax nosed down to NGN1.87 billion in 2007 as against NGN3.86bn in 2006 wile profit after tax dropped from NGN3.11bn in 2006 to NGN1.25bn in 2007. With the decline in net earnings, directors of the company recommended a bonus issue of one for eight for the 2007 business year. It had made bonus issue for the 2006 business year.
Alhaji Aliko Dangote, chairman, Benue Cement Company (BCC) Plc, has said the company would ride on the back of improved industrial performance, new capacities and administrative efficiencies to achieve long-term sustainable profitability. According to him, the production capacity of the cement company could reach three million metric tonnes by the second half of 2008 enabling the company to improve sales and profitability. He pointed out that the second production line of the company has been upgraded and inaugurated in January 2008 while the first production line, which was shutdown for upgrade in November 2007 is expected to be back on stream by mid 2008. “When the two kilns lines are totally upgraded we will be able to reach a capacity of 3mn metric tones during the year 2008,” Dangote said. He said the commencement of operations by Kaduna Refinery gives hope for improved supply of Low Pour Fuel Oil, which was a major cost element and led to disruption of operations in the previous year. He added that with recent significant investments to increase storage capacity, the resolution of the energy problem would boost local capacity utilisation, bridge the local supply gap and improve profitability. He however noted the adverse effect of what he described as “negative moves in government policy on the banning of cement imports” urging that government policies should support sustainable development of Nigerian manufacturing companies. “The company is determined to be a front-runner in the industry and optimistic that government policies will be fashioned in a manner that would considerably minimise the cost and other constraints of doing business in Nigeria,” Dangote said. He blamed the decline in the overall performance of the company in 2007 on disruption to production occasioned by fuel shortage pointing out that the company was shut down for 89 days in 2007 as a result of lack of Low Pour Fuel Oil.
Source: Financial Standard

[billions]

BENUE CEMENT CO PLC
PERIOD 30-09-2008 (3RD QUARTER)
2008 2007
TURNOVER N9.819b N4.487b
PROFIT BEFORE TAXATION N4.785b N1.746b
EXCEPTIONAL /EXTRA ORDINARY ITEMS
NIL N209.515m
PROFIT AFTER TAXATION N4.785b N1.956b

[billions]

Originally Posted by billions

BENUE CEMENT CO PLC
PERIOD 30-09-2008 (3RD QUARTER)
2008 2007
TURNOVER N9.819b N4.487b
PROFIT BEFORE TAXATION N4.785b N1.746b
EXCEPTIONAL /EXTRA ORDINARY ITEMS
NIL N209.515m
PROFIT AFTER TAXATION N4.785b N1.956b

This is nice!

[hispy99]

Originally Posted by billions

This is nice!

Nice, but still expensive compared to WAPCO

[billions]

Benue Cement Company profit up 175%

The Benue Cement Company Plc, a subsidiary of Dangote Industries Limited, announced on Monday its third quarter results for the period January 1, 2008 to September 30, 2008.

A statement on Monday said the company recorded a 118 per cent increase in turnover compared with the same period in 2007.



It said, operating profit for the period was N4.7bn a significant increase of 175 per cent compared with the same period in 2007 as the company’s new production capacity came online. BCC is in the process of expanding production to three million tons a year and continues to enjoy regular fuel and power supply to the plant thereby allowing uninterrupted operations.



According to the statement, Dangote Cement is investing heavily in developing local cement production capacity in Nigeria and the expansion of BCC is a key aspect of this process.

“In the first half of 2008, BCC inaugurated the first of its two kiln lines as planned. The kiln has been producing at its expected capacity and this has impacted positively on the Q3 results. The second kiln was inaugurated in September 2008 and production is being progressively increased.”



The statement quoted Chief Executive Officer, Dangote Cement, Mr. Tony Hadley as saying, “The expanded capacity we have invested in at BCC is now coming on stream and we are delighted that this is reflected in the strong Q3 results we are announcing. BCC is not yet operating at full production capacity and we are ramping up the second kiln, which will take us up towards three million tons.



“We expect further increases in production to be reflected in our year end results and expect strong performance throughout 2009.”



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