Business

BUA Cement reports N209bn revenue in FY’20

BUA Cement Plc has recorded a 19.32 per cent increase in revenues to N209.443 billion for the 2020 financial year as against N175.518 billion posted in 2019. The company, in report to the Nigerian Stock Exchange, posted profit before tax increased by 18.57 per cent from N66.518 billion in 2019 to N78.873 billion in 2020.

Profit after tax was up 19.35 per cent from N60.610 billion in 2019 to N72.344 billion in 2020. Based on the results, the board of directors is recommending for the approval of shareholders a payment of N2.067k dividend per one ordinary share of 50 kobo each, out of the profits declared in the financial year ended December 31, 2020 (2019: N1.75k). If approved, dividends paid to shareholders will be subject to the deduction of withholding tax at the appropriate rate at the time of payment.

 

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