BUA Cement grows sales and profits so far in 2020

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Nigeria: BUA Cement’s revenue grew by 12.7% year-on-year to US$261m in the first half of 2020 from US$232m in the same period of 2019. Its profit after tax rose by 13.7% to US$89.8m from US$78.9m. In comments reported by the Daily Independent newspaper, Yusuf Binji, the managing director of BUA Cement said that, “In a bid to further drive cost efficiencies and sustainability, we entered into strategic alliances for the supply of liquefied natural gas (LNG) at the Kalambaina, Sokoto State and the management of our mining operations.”

The cement producer has a production capacity of 8Mt/yr. It plans to increase this to 11Mt/yr when it commissions a new 3Mt/yr plant in Sokoto State in 2021.

Last modified on 05 August 2020

URL: https://www.globalcement.com/news/item/11173-bua-cement-grows-sales-and-profits-so-far-in-2020

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