Sokoto Cement declares N1.2 billion profit for 2015
The Cement Company of Northern Nigeria (CCNN) also called Sokoto Cement, has declared the sum of N1.2 billion profit after tax. It also declared the gross dividend of 10 kobo per share to its shareholders for the year 2015.
At the company’s AGM in Abuja, yesterday, the company’s MD, Alhaji Ibrahim Aminu, said: “Despite the challenges, we declared the dividend of 10k per share and profit after tax is N1.2bn. ” He added that the company spent an average of N6bn yearly on energy. The chairman of the company, Alhaji Abdulsamad Rabiu, attributed the increase in the price of cement to the high cost of energy and doing business in the country.
Rabiu said: “Energy is the challenge, but going forward, with the mining of coal that we hope to start, it will ease the pressure on us. There are challenges but we will forge ahead.” Nona Awoh, a shareholder, said there was need for the company to expand.