Tag: Dangote Cement

  • Gunmen kill Dangote employees in Ethiopia

    Three employees of a cement factory owned by Nigerian billionaire Aliko Dangote have been killed by gunmen in Ethiopia’s Oromia region.

    Indian national, Deep Kamara, who managed the plant, died alongside two Ethiopian employees, the BBC reports.

    They were returning to the capital, Addis Ababa, from the factory, a government statement said.

    The motive is unclear.

    Dangote is expected in the country on Thursday.

    He will be holding an emergency meeting with the factory’s management, Ethiopian daily the Addis Standard reports.

    Oromia has been plagued by violence for the past two years over political and economic grievances by Oromo youths – despite being the country’s largest group.

    The Dangote Cement Factory was commissioned in May 2015 and is the largest such plant in the country.

    The authorities were recently forced to cancel the renewal of a licence for a gold mine owned by an Ethiopian-Saudi billionaire following protests by Oromia residents.

    The country remains in a state of emergency, which was imposed in February a day after then Prime Minister Hailemariam Desalegn resigned.

    He was replaced by Abiy Ahmed, the first prime minister from the Oromo ethnic group, which is the largest in Ethiopia.

  • NSE indicators rebound by 0.17%

    The market indicators of the Nigerian Stock Exchange ( NSE ) on Tuesday rebounded by 0.17 per cent following gains by Mobil and Dangote Cement.

    All-Share Index rose by 69.86 points or 0.17 per cent to close at higher at 40,499.04 compared to 40,429.18 posted on Monday.

    Also, the market capitalisation inched N25 billion or 0.17 per cent to close at N14.628 trillion as against N14.603 trillion recorded on Monday.

    An analysis of the price movement table indicated that Mobil led the gainers’ table with a gain of N8.50 to close at N178.50 per share.

    Dangote Cement came second with N3 to close at N255, while International Breweries increased by N2.35 to close at N51. 50 per share.

    Lafarge Africa chalked up N1.40 to close at N42.40, while Dangote Sugar appreciated by 55k to close at N22 per share.

    Conversely, Total recorded the highest loss to lead the losers’ chart, dipping N2.80 to close at N233.80 per share.

    Unilever lost N1.90 to close at N53.10, while Forte Oil dipped N1.40 to close at N38.60 per share.

    Zenith Bank dropped 55k to close at N26. 35, while GT Bank decreased by 50k to close at N43 per share.

    Sovereign Trust Insurance was the toast of investors with an exchange of 82.46 million shares valued at N16.53 million.

    It was followed by Zenith Bank with 43.98 million worth N1.16 billion, while Skye Bank accounted for 37.46 million shares valued at N24.26 million.

    Flour Mills traded 32.23 million shares worth N1.19 billion, while Access Bank achieved a turnover of 30.04 million shares valued at N361.34 million.

    In all, investors bought and sold 388.28 million shares worth N4.21 billion transacted in 4,222 deals, representing an increase of 35.27 per cent.

    This was in contrast with 287.04 million shares valued at N4.95 billion traded in 4,285 deals on Monday.

    NAN

  • Dangote Cement declares N179b dividend

    Shareholders of Dangote Cement Plc will receive N178.9 billion as cash dividend for the 2017 business year as the cement company drew on increased sales and margins to grow net profit by 43 per cent to N204.25 billion.

    The board of directors of the cement company yesterday indicated that shareholders will receive a dividend per share of N10.50, representing an increase of 23.5 per cent on a dividend per share of N8.50 paid for the 2016 business year.

    Key extracts of the audited report and accounts for the year ended December 31, 2017 showed that the group turnover grew by 31 per cent from N615.1 billion in 2016 to N805.6 billion in 2017. Profit before tax increased from N180.93 billion in 2016 to N289.59 billion in 2017. Profit after tax rose from N142.86 billion in 2016 to N204.25 billion in 2017. Earnings per share consequently improved to N11.65 in 2017 compared with N8.78 in 2016.

    The report indicated that while sales from the three plants in Nigeria contributed N552.36 billion to the group’s revenue, the balance of N258.44 billion was accounted for by plants in other African countries. Revenue attributable to Nigeria grew by 29.6 per cent while that from Pan-African operations rose by 32.5 per cent.

    Though group sales volumes were lower by seven percent due to depressed Nigerian market, Pan-African sales volumes went up by 8.4 per cent to 9.4 metric tonnes with strong volume increases in Senegal, Ethiopia and Cameroon and new capacities of 1.5 metric tonnes in Congo and 0.5 metric tonnes in Sierra Leone.

    Acting Group Chief Executive Officer, Dangote Cement Plc, Joseph Makoju, said the company’s performance demonstrated the robust diversification of its business.

    “We expanded our footprint from eight countries to ten with the opening of new facilities in the Republic of Congo and Sierra Leone, while our operations in Cameroon, Senegal and Ethiopia achieved strong sales growth during the year. With total sales volumes of nearly 22 million tonnes, we are by far the leading manufacturer of cement in Sub-Saharan Africa,” Makoju said.

  • NB, Dangote Cement record loses on NSE, drag index by 1.12%

    NB, Dangote Cement record loses on NSE, drag index by 1.12%

    Nigerian Breweries and Dangote Cement recorded price depreciation on the Nigerian Stock Exchange ( NSE ) on Thursday, dragging the indices down by 1.12 per cent.

    Both companies led the losers’ chart with a loss of N4.90 per share.

    Specifically, Nigerian Breweries lost N4.90 to close at N131, while Dangote Cement also dipped N4.90 to close at N264.90 per share.

    Lafarge Africa dropped N1.80 to close at N50.10, while Total depreciated by N1 to close at N231 per share.

    Guaranty Trust Bank also declined by N1 to close at N48 per share.

    Consequently, the All-Share Index, which opened at 43,330.54, shed 487.16 points or 1.12 per cent to close at 42,843.38.

    Also, the market capitalisation lost N175 billion or 1.13 per cent to close at N15.374 trillion compared with N15.549 trillion on Wednesday.

    On the other hand, Seplat, due to improved 2017 earnings released to the market, led the gainers’ table, growing by N14.50 to close at N675 per share.

    NASCON followed with a gain of 95k to close at N22.95, while International Breweries gained 65k to close at N57.65 per share.

    Unilever added 35k to close at N51.55, while Union Bank of Nigeria advanced by 25k to close at N6.75 per share.

    A breakdown of the activity chart indicated that Transcorp was the most active stock during the day, trading 40.35 million shares worth N80.98 million.

    Zenith International Bank followed with an account of 40.04 million shares valued at N1.27 billion, while GT Bank traded 31.04 million shares worth N1.51 billion.

    Wapic Insurance exchanged 30.26 million shares valued at N19.67 million, while Royal Exchange traded 29.74 million shares worth N9.52 million.

    In all, the volume of shares traded dropped by 35.08 per cent with an exchange of 371.25 million shares valued at N4.87 billion transacted in 4,570 deals.

    This was in contrast with a total of 571.87 million shares worth N10.80 billion traded in 5,142 deals on Wednesday.

    NAN

  • Investors net worth drop by 0.66% on NSE

    Investors net worth drop by 0.66% on NSE

    Investors net worth on the Nigerian Stock Exchange ( NSE ) on Tuesday dipped by 0.66 per cent due to price depreciation.

    The All-Share Index lost 279.92 points or 0.66 per cent to close at 42,299.56 compared to 42,579.48 achieved on Monday.

    Also, the market capitalisation closed lower at N15.179 trillion as against N15.280 trillion posted on Monday, representing a loss of N101 billion or 0.66 per cent.

    An analysis of the price movement table showed that Seplat for the second consecutive day topped the losers’ table, dropping by N13.50 to close at N657.90 per share.

    International Breweries trailed with a loss of N2.85 to close at N57, while Dangote Cement recorded a drop of N2 to close at N257 per share.

    Lafarge Africa shed N1.30 to close at N50, while Julius Berger was down by N1.10 to close at N24.85 per share.

    Conversely, Nestle led the gainers’ table, gaining N22 to close at N14 per share.

    Total followed with a gain of N15 to close at N232, while Mobil Oil recorded a gain of N3.40 to close at N183.90 per share.

    Conoil improved by N3.15 to close at N35.25, while Cement Company of Northern Nigeria appreciated by N1.35 to close at N18.20 per share.

    In spite of the drop in the market indices, the volume of shares traded closed higher with an exchange of 438.65 million shares worth N8.79 billion transacted in 5,433 deals.

    This was against the 384.26 million shares valued at N5.47 billion traded in 4,774 deals on Monday.

    Transcorp dominated trading activities emerging as the most active stock during the day, exchanging 45.09 million shares worth N93.04 million.

    Diamond Bank followed with an account of 43.35 million shares valued at N105.73 million, while FBN Holdings traded 42.35 million shares worth N490.91 million.

    Fidelity Bank exchanged 40.02 million shares valued at N119.99 million and Access Bank sold 27.39 million shares worth N355.31 million.

    NAN

  • Major oil stocks plummet on NSE

    Major oil stocks plummet on NSE

    Major oil stocks posted price depreciation on the Nigerian Stock Exchange ( NSE ) on Monday just as the market indices recorded marginal growth of 0.02 per cent.

    Seplat dipped N13.70 to close at N571.40 to lead the losers’ table.

    Total trailed with a loss of N11 to close at N217, while Mobil Oil shed N9.50 to close at N180.50 per share.

    Dangote Cement was down by N1 to close at N259, while United Bank for Africa declined by 45k to close at N12.50 per share.

    Conversely, International Breweries topped the gainers’ table, growing by N2.85 to close at N59.85 per share.

    PZ Industries followed with a gain of N1.15 to close at N24.15, while NASCON appreciated by N1.05 to close at N21.60

    Guaranty Trust Bank advanced by 75k to close at N49.35, while Redstar increased by 30k to close at N6.30 per share.

    Consequently, the All-Share Index rose marginally by 8.59 points or 0.02 per cent to close at 42,579.48 compared with 42,570.89 achieved on Friday.

    Similarly, the market capitalisation which opened at N15.277 trillion rose by three billion naira or 0.02 per cent to close at N15.280 trillion.

    Cement Company of Northern Nigeria was the most active stock, trading 134.89 million shares worth N2.25 billion.

    Transcorp followed with an account of 34.15 million shares valued at N71.04 million, while FBN Holdings traded 21.78 million shares worth N250.07 million.

    Access Bank sold 20.58 million shares valued at N 270.03 million, while Fidelity Bank exchanged 20.49 million shares worth N 61.30 million.

    In all, the volume of shares transacted closed higher as investors bought and sold 384.26 million shares valued at N5.47 billion achieved in 4,774 deals.

    This was in contrast with a turnover of 308.43 million shares worth N6.40 billion exchanged in 4,356 deals.

    NAN

  • Major oil stocks plummet on NSE

    Major oil stocks plummet on NSE

    Major oil stocks posted price depreciation on the Nigerian Stock Exchange (NSE) on Monday just as the market indices recorded marginal growth of 0.02 per cent.

    The News Agency of Nigeria (NAN) reports that Seplat dipped N13.70 to close at N571.40 to lead the losers’ table.

    Total trailed with a loss of N11 to close at N217, while Mobil Oil shed N9.50 to close at N180.50 per share.

    Dangote Cement was down by N1 to close at N259, while United Bank for Africa declined by 45k to close at N12.50 per share.

    Conversely, International Breweries topped the gainers’ table, growing by N2.85 to close at N59.85 per share.

    PZ Industries followed with a gain of N1.15 to close at N24.15, while NASCON appreciated by N1.05 to close at N21.60

    Guaranty Trust Bank advanced by 75k to close at N49.35, while Redstar increased by 30k to close at N6.30 per share.

    Consequently, the All-Share Index rose marginally by 8.59 points or 0.02 per cent to close at 42,579.48 compared with 42,570.89 achieved on Friday.

    Similarly, the market capitalisation which opened at N15.277 trillion rose by three billion naira or 0.02 per cent to close at N15.280 trillion.

    Cement Company of Northern Nigeria was the most active stock, trading 134.89 million shares worth N2.25 billion.

    Transcorp followed with an account of 34.15 million shares valued at N71.04 million, while FBN Holdings traded 21.78 million shares worth N250.07 million.

    Access Bank sold 20.58 million shares valued at N 270.03 million, while Fidelity Bank exchanged 20.49 million shares worth N 61.30 million.

    In all, the volume of shares transacted closed higher as investors bought and sold 384.26 million shares valued at N5.47 billion achieved in 4,774 deals.

    This was in contrast with a turnover of 308.43 million shares worth N6.40 billion exchanged in 4,356 deals.

  • Dangote Cement gives scholarships to 115 students in host communities

    Dangote Cement gives scholarships to 115 students in host communities

    Dangote Cement Plc, Ibese Plant has announced a multi-million naira educational scholarship award for 115 students from its 15 host communities for the 2017/2018 academic session.

    The company said the scholarship, which is a major boost to its corporate social responsibility profile, has become an annual event meant to contribute to the educational development of the people and the area.

    Acting Plant Director of Dangote Cement, Ibese, Mr. Louis Raj, while speaking during the presentation of cheques to the beneficiaries at Ibese Plant, explained that the management decided to increase the number of beneficiaries to 115 from the previous 80 so that more children of the area could benefit.

    He said the decision was meant to encourage the young ones to go to school as a sure way of building them mentally and morally so that they would be good to themselves and the society.

    According to him, the scholarship award is one of the many social services the company has committed itself to and continue to provide other social services as a way of giving back to the society within which it operates.

    Raj stated that the scholarship award and other CSR projects were being undertaken as a way of saying thank you to the people for maintenance and sustenance of peace in the area.

    He noted that it was the prevailing atmosphere of peace that make the company to operate smoothly.

    He expressed the management gratitude to the royal fathers and other community leaders whose efforts have accounted for the peace and tranquility, noting that the company would wish the spirit of peaceful coexistence continues.

    General Manager, Government and Community Relations, Joseph Alabi while giving the breakdown of the scholarship, said the award covered 115 students of Yewa origin studying various courses across several higher institutions of learning.

    Some of the schools where the beneficiaries are studying include polytechnics, universities, College of Educations, College of Technologies and secondary schools in Ogun State.

    Alabi also announced a list of candidates from the host communities who have been selected to attend Dangote Academy for training in various arts and vocations.

    The training, he said, would equip them with wherewithal to work and do their own business whenever they chose to be.

    Olu of Imasayi Oba Gbadebo Oni said the host communities were happy with Dangote Cement with its handling of community issues, saying Alhaji Aliko Dangote deserves all the cooperation his people could muster for siting the cement plant in their land and then taking care of the people and the communities.

    He promised that his people would continue to give peace a chance always because to whom much is given, much is expected. The monarch said the education scholarship was the best thing that has happened to the host communities because the issue of quality education cannot be quantified in monetary terms.

    The scholarship, according to him, has offered big reliefs to parents, who have to struggle so much to ensure their children school fees are paid, saying they will forever be grateful to the management of Dangote cement.

    Also, the Dangote Cement Plc, Gboko factory in Benue State had also given out N20 million worth of scholarships to indigent students from the firm’s host community, Mbayion, as part of its CSR in the last one year.

    The Group also emerged Nigeria’s best Corporate Social Responsibility (CSR) Company according to a survey by Governance Advancement Initiative for Nigeria (GAIN), an NGO.

    Dangote was the adjudged overall winner among 25 Nigerian and multinational companies operating in the country in 2016, scoring 6.3 per cent, followed by Nestle with 5.51 per cent and Etisalat with 5.45 per cent.

     

  • Dangote Cement rallies equities to N58b gain amidst increased selloff

    Nigeria’s most capitalised quoted company-Dangote Cement Plc yesterday roused the equities market to a modest gain of N58 billion, despite increased selloff across many sectors of the market. Dangote Cement-which accounts for more than one-quarters of the equities market capitalisation rose by N8.70 or 3.46 per cent to close at N260 per share.

    With 37 losers against 18 gainers and the market heading towards another consecutive decline, the gain by Dangote Cement lifted the overall market position by 0.38 per cent, equivalent to net capital gain of N58 billion. Excluding Dangote Cement, the market was down by 0.84 per cent.

    The All Share Index (ASI)-the benchmark value index for quoted equities at the Nigerian Stock Exchange (NSE)- improved marginally from its opening index of 41,987.74 points to close at 42,148.40 points. Aggregate market value of all quoted equities also rose correspondingly from its opening value of N15.068 trillion to close at N15.126 trillion. This nudged the average year-to-date return to 10.21 per cent.

    Sectoral indices underlined the widespread selling sentiment that dominated transactions yesterday, despite the positive overall market position. With the exception of the NSE Industrial Goods Index-where Dangote Cement is listed, all other sectoral indices closed negative. The NSE Oil & Gas Index declined by 1.3 per cent. The NSE Banking Index dropped by 1.0 per cent. The NSE Consumer Goods Index dipped by 0.1 per cent while the NSE Insurance Index slipped by 0.4 per cent. However, the NSE Industrial Goods Index rallied by 1.6 per cent.

    The positive overall market position was also boosted by gains recorded by many other large-cap stocks including Nestle Nigeria, United Bank for Africa (UBA), PZ Cussons Nigeria and Cadbury Nigeria. Nestle Nigeria-NSE’s highest-priced stock led the gainers with a gain of N38.20 to close at N1, 380. PZ Cussons Nigeria rose by N1.15 to close at N24.15. Cadbury Nigeria added 75 kobo to close at N15.85. Red Star Express appreciated by 25 kobo to close at N6. UBA rose by 20 kobo to close at N12.20 while Eterna chalked up 18 kobo to close at M5.85 per share.

    The momentum of activities also improved considerably as turnover volume and value rose by 77.7 per cent and 102.6 per cent. Total turnover stood at 510.28 million shares valued at N4.63 billion in 5,757 deals. FBN Holdings was the most active stock with a turnover of 115.51 million shares valued at N1.25 billion. Japaul Oil & Maritime Services followed with a turnover of 97.26 million shares worth N33.2 million while Diamond Bank placed third with a turnover of 41.39 million shares worth N103.13 million.

    On the downside, Total Nigeria led the losers with a loss of N11.40 to close at N217.60. Conoil followed with a drop of N3.80 to close at N35.50. International Breweries declined by N2.95 to close at N56.05. GlaxoSmithKline Consumer Nigeria lost N1.05 to close at N20.15 while Nascon Allied Industries dropped by N1 to close at N20 per share.

    Most analysts remained optimistic on the outlook for the equities market. Analysts at Afrinvest Securities noted that the new earnings reports might boost performance in the weekas ahead.

    “Nevertheless, our near-term market outlook remains positive as we approach the full-year 2017 earnings season,” Afrinvest Securities stated.

    FSDH Securities noted that the “market outlook remained positive with the possibility of a rebound as investors take advantage of low valuations”.

    “It is likely gains persist in the equities market, as we look to investors taking position ahead of fourth quarter 2017 corporate releases, amidst strengthening macroeconomic fundamentals,” Cordros Capital stated.

     

  • Blue chips record price rally on NSE, indices up by 1.03%

    Blue chips record price rally on NSE, indices up by 1.03%

    Some blue chips maintained upward movement on the Nigerian Stock Exchange ( NSE ) on Thursday with Nigerian Breweries leading the gainers’ chart.

    Nigerian Breweries led gainers’ table with a gain of N2.40 to close at N131.40 per share.

    Dangote Cement followed with a gain of N1.50 to close at N259.90, while Lafarge Africa gained N1 to close at N52 per share.

    Stanbic IBTC also grew by N1 to close at N46, while Dangote Sugar Refinery added N1 to close at N22 per share.

    Consequently, the All-Share Index appreciated further by N156 billion or 1.03 per cent to close at 42,604.40 against 42,171.80 achieved on Wednesday.

    In the same vein, the market capitalization, which opened at N15.133 trillion rose by N156 billion or 1.03 per cent to close at N15.289 trillion.

    On the other hand, CAP posted the highest price loss to lead the laggards’ table, shedding N1.90 to close at N36.95 per share.

    NASCON trailed with a loss of 75k to close at N20, while Union Bank of Nigeria was down by 30k to close at N7.55 per share.

    Etranzact depreciated by 25k to close at N4.75, while Caverton also declined by 25k to close at N2.60 per share.

    Also, the volume of shares traded closed higher by 18.14 per cent as investors bought and sold 615.18 million shares worth N6.28 billion in 5,904 deals.

    This was lower than 520.74 million shares valued at N4.72 billion exchanged in 5,694 deals on Wednesday.

    Multiverse was the most active with a turnover of 87.10 million shares worth N31.36 million.

    Skye Bank followed with an account of 65.57 million shares valued at N73.79 million, while Access Bank traded 59.03 million shares worth N766.38 million.

    FCMB Group sold 56.14 million shares valued at N158.29 million, while FBN Holdings traded 39.41 million shares worth N499.04 million.

    NAN