Ashaka Cement

[123.rado]

Originally Posted by Waves

In this bear market, this stock has gained 25% over the last two weeks. What is driving this stock? Surely it can't be the DCC/BCC merger as CCNN (which is more efficient than Ashaka) has been heading south.

What do you expect of a company that has refused to release result? We are watching. manemi has already predicted N12 b/stop possibly for CCNN.

[Waves]

ASHAKA CEMENT PLC
02 November 2010
Unaudited Q3 (September) 2010

Profit and Loss Information
Turnover 10 N13.570b 09 N12.706b
Profit Before Tax 10 N2.729b 09 N1.775b
Taxation 10 (N819m) 09 (N586m)
Profit After Taxation 10 N1.910b 09 N1.189b

Balance Sheet Information
Fixed Assets 30-09-10 N14.462b 31-12-09 N5.218b
Stock 10 N5.956b 09 N4.707b
Trade Debtors 10 N382m 09 N88m
Cash And Bank Balances 10 N921m 09 N849m
Other Debit Balances 10 N6.052b 09 N14.756b
Trade Creditors 10 N1.432b 09 N2.296b
Other Credit Balances 10 N10.468b 09 N10.179b
Working Capital 10 (N340m) 09 (N3.096b)
Net Assets 10 N15.871b 09 N13.142b

[nosa2]

Originally Posted by Waves

ASHAKA CEMENT PLC
02 November 2010
Unaudited Q3 (September) 2010

Profit and Loss Information
Turnover 10 N13.570b 09 N12.706b
Profit Before Tax 10 N2.729b 09 N1.775b
Taxation 10 (N819m) 09 (N586m)
Profit After Taxation 10 N1.910b 09 N1.189b

Balance Sheet Information
Fixed Assets 30-09-10 N14.462b 31-12-09 N5.218b
Stock 10 N5.956b 09 N4.707b
Trade Debtors 10 N382m 09 N88m
Cash And Bank Balances 10 N921m 09 N849m
Other Debit Balances 10 N6.052b 09 N14.756b
Trade Creditors 10 N1.432b 09 N2.296b
Other Credit Balances 10 N10.468b 09 N10.179b
Working Capital 10 (N340m) 09 (N3.096b)
Net Assets 10 N15.871b 09 N13.142b

forward p.e of 18. Gravity needs to do some work here

[wanaj0]

Originally Posted by nosa2

forward p.e of 18. Gravity needs to do some work here

You wish!!!! Dont expect it. They are pricing future earnings into that stock. It is the earnings growth that is driving the price and not the PE

[knightofdelta]

Originally Posted by nosa2

forward p.e of 18. Gravity needs to do some work here

Interesting. PE dropped from like 55x to 18x...

[baotoghile]

ASHAKA CEMENT PLC
15 April 2011
Audited Accounts (December) 2010
Profit and Loss Information
Turnover 10 N19.153b 09 N17.193b
Profit Before Tax And Extarordinary Items 10 N4.389b 09 N1.850b
Exceptional Items 10 Nil 09 N514.439m
Profit Before Tax 10 N4.389b 09 N2.365b
Taxation 10 (N1.384b) 09 (N1.422b)
Profit After Tax 10 N3.004b 09 N943.618m

Balance Sheet Information
Fixed Assets 10 N18.701b 09 N19.066b
Stock 10 N5.330b 09 N4.707b
Trade Debtors 10 N35.236m 09 N87.618m
Cash and Bank Balances 10 N3.191b 09 N849.614m
Other Debit Balances 10 N866.013m 09 N907.793m
Trade Creditors 10 N1.786b 09 N2.296b
Other Credit Balances 10 N10.192b 09 N10.180b
Working Capital 10 N16.146b 09 (N3.095b)
Net Assets 10 N16.146b 09 N13.141b

Corporate Actions
Proposed Dividend 30kobo
Proposed Bonus Nil
Payment Date
27th July 2011
Closure Date 18th
July 2011
AGM Date
27th July 2011
AGM Venue Nil

[Waves]

Originally Posted by baotoghile

ASHAKA CEMENT PLC
15 April 2011
Audited Accounts (December) 2010
Profit and Loss Information
Turnover 10 N19.153b 09 N17.193b
Profit Before Tax And Extarordinary Items 10 N4.389b 09 N1.850b
Exceptional Items 10 Nil 09 N514.439m
Profit Before Tax 10 N4.389b 09 N2.365b
Taxation 10 (N1.384b) 09 (N1.422b)
Profit After Tax 10 N3.004b 09 N943.618m

Balance Sheet Information
Fixed Assets 10 N18.701b 09 N19.066b
Stock 10 N5.330b 09 N4.707b
Trade Debtors 10 N35.236m 09 N87.618m
Cash and Bank Balances 10 N3.191b 09 N849.614m
Other Debit Balances 10 N866.013m 09 N907.793m
Trade Creditors 10 N1.786b 09 N2.296b
Other Credit Balances 10 N10.192b 09 N10.180b
Working Capital 10 N16.146b 09 (N3.095b)
Net Assets 10 N16.146b 09 N13.141b

Corporate Actions
Proposed Dividend 30kobo
Proposed Bonus Nil
Payment Date
27th July 2011
Closure Date 18th
July 2011
AGM Date
27th July 2011
AGM Venue Nil

So why exactly did this stock trade for as much as N30 earlier this year? Margins are improving (due to energy cost savings from use of coal) but top line is not growing. My guess is that the modest increase in turnover is more due to higher prices than increased tonnage.

This result is simply an advert for Dangote Cement.

[wanaj0]

Originally Posted by Waves

So why exactly did this stock trade for as much as N30 earlier this year? Margins are improving (due to energy cost savings from use of coal) but top line is not growing. My guess is that the modest increase in turnover is more due to higher prices than increased tonnage.

This result is simply an advert for Dangote Cement.

Dont know why BUT Ashaka did not do any real capacity expansion. They have improve efficiency which has helped the margins BUT nothing done to really improve production capacity. They got like 20% increase in capacity due to increase efficiency and thats all. Unlike other companies which are doing huge capacity expansion, Ashaka just remain static doing nothing! One is really wondering what the strategy is!

[manemi]

Originally Posted by wanaj0

Dont know why BUT Ashaka did not do any real capacity expansion. They have improve efficiency which has helped the margins BUT nothing done to really improve production capacity. They got like 20% increase in capacity due to increase efficiency and thats all. Unlike other companies which are doing huge capacity expansion, Ashaka just remain static doing nothing! One is really wondering what the strategy is!

Broses. since the sale of about 190m shares of this stock on 20th June 2011 the price has been nose diving (although other stocks is the sector have fallen too). What is up, and should we expect a major readjustment to, say N16?

[solo66]

ASHAKA CEMENT PLC
22 August 2011
Unaudited Q2 (June) 2011
Profit and Loss Information

Turnover 11 N10.220b 10 N10.082b Profit Before Tax 11 N2.306b 10 N2.294b Taxation 11 (N692m) 10 (N688m) Profit After Tax 11 N1.614b 10 N1.606b
Balance Sheet Information
Fixed Assets 30-06-11 N18.427b 30-06-10 N18.701b Stock 11 N4.943b 10 N5.330b Trade Debtors 11 Nil 10 N35.236m Cash and Bank Balances 11 N7.750b 10 N3.191b Other Debit Balances 11 N1.161b 10 N866.013m Trade Creditors 11 N1.652b 10 N1.786b Other Credit Balances 11 N12.177b 10 N10.192b Working Capital 11 N4.397b 10 N1.639b Net Assets 11 N18.452b 10 N16.146b

ASHAKA CEMENT PLC
22 August 2011
Unaudited Q1 (March) 2011

Profit and Loss Information
Turnover 11 N4.918b 10 N5.133b Profit Before Tax 11 N761m 10 N1.308b Taxation 11 (N228m) 10 (N432m) Profit After Tax 11 N533m 10 N876m
Balance Sheet Information
Fixed Assets 31-03-11 N18.463b 30-06-10 N18.701b Stock 11 N5.355b 10 N5.330b Trade Debtors 11 Nil 10 N35.236m Cash and Bank Balances 11 N7.169b 10 N3.191b Other Debit Balances 11 N1.297b 10 N866.013m Trade Creditors 11 N1.003b 10 N1.786b Other Credit Balances 11 N13.397b 10 N10.192b Working Capital 11 N2.555b 10 N1.639b Net Assets 11 N17.884b 10 N16.146b

[BigSeun]

ASHAKACEM PLC
October 28, 2011
Unaudited Q3 (Sept 2011)
Profit and Loss Information
Turnover 30/09/2011 N16.305b 30/09/2010 N15.794b
Cost of Sales 11 (N9.984b) 10 (N9.615b)
Operating Expenses 11 (N1.504b) 10 (N1.131b)
Depreciation 11 (N728m) 10 (N421m)
Interest charges 11 (N62m) 10 N125m
Profit Before Tax 11 N3.516b 10 N2.730b
Taxation 11 (N1.055b) 10 (N819m)
Profit After Tax 11 N2.461b 10 N1.911b

Balance Sheet Information
Fixed Assets 30/09/2011 N18.510b 31/12/2010 N18.778b
Stocks 11 N5.206b 10 N5.330b
Trade Debtors 11 Nil 10 N35.236m
Cash and Bank Balances 11 N7.660b 10 N3.191b
Other Debit Balances 11 N1.172b 10 N788.409m
Trade Creditors 11 N3.512b 10 N1.786b
Short term Borrowings 11 Nil 10 Nil
Other Credit Balances 11 N10.046b 10 N10.192b
Working Capital 11 N5.022b 10 N1.639b
Net Assets 11 N18.990b 10 N16.146b

[cashrules]

Originally Posted by BigSeun

ASHAKACEM PLC
October 28, 2011
Unaudited Q3 (Sept 2011)
Profit and Loss Information
Turnover 30/09/2011 N16.305b 30/09/2010 N15.794b
Cost of Sales 11 (N9.984b) 10 (N9.615b)
Operating Expenses 11 (N1.504b) 10 (N1.131b)
Depreciation 11 (N728m) 10 (N421m)
Interest charges 11 (N62m) 10 N125m
Profit Before Tax 11 N3.516b 10 N2.730b
Taxation 11 (N1.055b) 10 (N819m)
Profit After Tax 11 N2.461b 10 N1.911b

Balance Sheet Information
Fixed Assets 30/09/2011 N18.510b 31/12/2010 N18.778b
Stocks 11 N5.206b 10 N5.330b
Trade Debtors 11 Nil 10 N35.236m
Cash and Bank Balances 11 N7.660b 10 N3.191b
Other Debit Balances 11 N1.172b 10 N788.409m
Trade Creditors 11 N3.512b 10 N1.786b
Short term Borrowings 11 Nil 10 Nil
Other Credit Balances 11 N10.046b 10 N10.192b
Working Capital 11 N5.022b 10 N1.639b
Net Assets 11 N18.990b 10 N16.146b

These guys seems to be getting their acts together a bit… improved turnover and PAT

They have reduced their borrowings to nil……and increased their trade creditors by almost 100%. (Saving interest payments to the banks and squeezing the suppliers further)

They have also increased their working capital from N1B to N5B (I don’t like this as this drains the company of cash flow which is payable to us shareholders...Just hope they would be able to finally convert this increase to profits soonest)

[wanaj0]

Originally Posted by cashrules

These guys seems to be getting their acts together a bit… improved turnover and PAT

They have reduced their borrowings to nil……and increased their trade creditors by almost 100%. (Saving interest payments to the banks and squeezing the suppliers further)

They have also increased their working capital from N1B to N5B (I don’t like this as this drains the company of cash flow which is payable to us shareholders...Just hope they would be able to finally convert this increase to profits soonest)

In the good old days, Ashaka use to earn close to N1bn as interest income.

[cashrules]

Originally Posted by wanaj0

In the good old days, Ashaka use to earn close to N1bn as interest income.

means they were clueless on what to with their free cash....dem for they give shareholders the cash naa

[wanaj0]

Originally Posted by cashrules

means they were clueless on what to with their free cash....dem for they give shareholders the cash naa

Not really. When last did Ashaka raise funds from the Capital market? They've done expansion, rebuilt furnace, converted to coal without loans going to the market.

Yes they did pay SPECIAL dividend to shareholders.

[goldsun]

Since the lafarge group owns 44% of this an6scowcof 60% of WAPCO why can't they an6bind merge the two company

[Salida]

Nigeria’s Cement Independence is Possible in 2012, Articles | THISDAY LIVE

[Salida]

Ashakacem plans further expansion with 300,000 MT capacity

[faithgonuel]

Abeg Oga's in the know, wetin dey happen with Ashaka??? Their plants no dey produce again?? Moreso, Cement price now for JTown na N2,200 - N2,000 per bag depending on the part of Town you dey......

[knightofdelta]

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