Nigeria: BUA Cement’s nine-month consolidated sales were US$453m in 2021, up by 20% year-on-year from US$379m in the first nine months of 2020. The group’s net profit was US$160m, up by 23% from US$130m. The Daily Independent newspaper has reported that increased costs restricted profit growth in the third quarter of 2021. Administrative expenses rose by 51% year-on-year during the quarter.
Nigerian cement sales rise by 30% year-on-year in first nine months of 2021
Nigeria: Domestic cement sales totalled US$3.46bn in value in the first nine months of 2021, up by 30% year-on-year from US$2.66bn in the corresponding period of 2020. The Punch newspaper has reported that market research company Atlas Portfolios Limited attributed the growth to an increase in federal and state governments’ infrastructure spending. The company added that increased homebuilding following the end of the Covid-19 lockdown generated further demand growth.
Najran Cement increases sales and profit in first nine months of 2021
Saudi Arabia: Najran Cement’s sales in the nine-month period which ended on 30 September 2021 were US$117m, up by 1.2% year-on-year from US$116m in the corresponding period of 2020. The company increased its nine-month net profit by 7.5% to US$34.5m from US$32.1m. It said that its cost of sales per tonne and finance expenses both declined.
Iran’s first-half cement production falls by 9.2% in 2022 financial year
Iran: Cement companies produced 32.4Mt of cement in the first half of the 2022 financial year, down by 9.2% year-on-year from 35.8Mt in the first half of the 2021 financial year. 62 companies supply cement in the Iranian market. In the 2021 financial year, Iran produced 68.3Mt, exported 11Mt and consumed 65Mt, including imports.
