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ASHAKA CEMENT  PLC

 

Nature of Business:   Manufactures and markets cement products.

Head Office Address:  Ashaka Works, Near Gombe, GOMBE State. P.M.B. 3276, Kano.

Telephone: (072) 7012 7130

Website: None

Date of Incorporation: 7.8.74

Date Listed on the Lagos Exchange: 30.11.90

Auditors: Pannell Awobo Yusuf & Company (Chartered Accounts), P.M.B. 787, Kano.

End of Accounting Year: 30th November.

 

5-Year Financial Summary

ASHAKA CEMENT PLC  5-YEAR FINANCIAL SUMMARY

 

CAPITAL EMPLOYED: 1998 1997 1996 1995 1994
N'000 N'000 N'000 N'000 N'000
Ordinary Share Capital 292,500 292,500 292,500 175,500 175,500
Bonus Issue Provision 117,000
Reserves 2,308,438 2,033,456 1,540,285 1,091,119 613,527
Total Ord. Shareholders' Funds 2,600,938 2,325,956 1,832,785 1,383,619 789,027
Preference Capital 10,000 10,000 10,000 10,000 10,000
Debenture & Loans 4,894 11,741 36,241 73,491
Net Assets Employed 2,610,938 2,340,850 1,854,526 1,429,860 872,518
Fixed Assets 798,845 812,609 765,395 547,555 266,696
Long term Prepayments 3,220 3,827 500 578
Net Current Assets 1,808,873 1,524,414 1,089,131 881,805 605,244
2,610,938 2,340,850 1,854,526 1,429,860 872,518

Turnover (Excluding VAT) 3,892,256 3,945,792 3,747,104 3,516,722 1,867,737

PROFIT, DIVIDENDS & RETENTIONS:
Depreciation 135,053 131,276 98,855 56,484 32,817
Profit before Tax 551,688 916,983 783,814 941,715 452,609
Profit after Taxation 393,682 631,172 556,166 720,304 302,152
Preference Dividends (1,700) (1,700) (1,700) (1,700) (1,700)
Ordinary Dividends (117,000) (117,000) (105,300) (105,300) (87,750)
Bonus Issue Provision (117,000)
Retained Profits 274,982 512,472 449,166 496,304 212,702
Dividends per 50k Ord. Share 20k 20k 18k 18k 15k
Earnings per 50k Ord. Share 67.3k 107.6k 94.8k 122.8k 51.4k
Net Assets per 50k Ord. Share  N4.45 N4 N3.17 N2.44 N1.49
Dividend Cover (Times) 3.4 5.4 5.3 6.8 3.4
Cement Deliveries ('000 Tonnes) 519 623 592 613 576
Av. Cement Price per Ton del.(Exc VAT) 7,496 6,330 6,330 5,740 3,243
Capital Expenditure (N'000) 121,289 178,490 318,073 338,605 100,286
Average Number of Employees 1,705 1,734 1,861 1,831 1,859

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