Cement Company of Northern Nigeria, CCNN, Plc posted a turnover of N13.04 billion in 2015 as the company fought through the tough macro-economic and industry environment.
Major highlights of the audited report and accounts of CCNN for the year ended December 31, 2015 showed that the company recorded pre and post-tax profits of N1.55 billion and N1.20 billion during the year, while gross profit stood at N3.96 billion.
The company improved its intrinsic value during the year with net assets per share rising by seven per cent from N7.52 in 2014 to N8.07 in 2015. Total assets also rose by nine per cent from N15.78 billion to N17.15 billion.
Non-current assets had grown by 21 per cent from N8.37 billion to N10.12 billion. Shareholders’ funds also improved by seven per cent from N9.45 billion in 2014 to N10.14 billion in 2015.
The Board of Directors has proposed distribution of a total of N125.7 million to shareholders as cash dividends for the 2015 business year, representing a dividend per share of 10 kobo.
