Cement Company of Northern Nigeria (CCNN) has reported a Profit before Tax (PBT) of N5.7 billion from the N2.9 billion it recorded in the previous year, on the back of a 74 percent decline in finance cost, the 9month score card of the cement maker shows.
The firms finance cost, which signifies the cost, interest, and other charges involved in the borrowing of money to build or purchase its assets, stood at N28.8 million, representing a 74 percent decline from as high as N112 million it incurred the same period in the previous year.
Similarly, revenue for the cement maker surged 44 percent to N19.6 billion in the 9month period of 2018, compared with the N13.6 billion it reported last year. Profit after Tax also increased by 96.9 percent from N2.03 billion to N4.01 billion.
Earnings per share which shows the portion of the company’s profit allocated to each share of the shareholders rose to N319 from N162 the last year.
