Sokoto Cement records N14bn turnover

Cement Company of Northern Nigeria (CCNN) has announced impressive performance for the 2016 financial year.

The Sokoto based cement manufacturers recorded gross turnover of N14.1 billion and a profit after tax of N1.25 billion during the year under consideration.

The company’s Chairman, Dr Abdulsamad Rabiu who made this known during the company’s Annual General Meeting told shareholders that CCNN achieved the feat despite the harsh economic environment, which prevailed in the country in that year.

The company was able to grow its profit by four percent from n1.2bn in 2015 to N1.25bn in 2016 due to strict cost efficiency regime which the management of the company was able to maintain during the period.

For instance, cement production in 2016 was 485,799 tons (23% increases) compared to 395.438 tons in 2015.

Cement dispatch (sales) in 2016 also was 488,495 tons (21% increases) compared to 404,377 tons in 2015.

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