RESULT: Ashaka Cement Post 9.6% Drop In PAT To N2.8billion. See Details

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Ashaka Cement Plc released its 2013 FY results posting a profit after tax of N2.8billion representing a 9.6% drop from the N3.1billion posted in 2012. Other highlights of the results are as follows;

• There was no growth in revenue as it remained flat at N21.6billion (2012: N21.8billion)
• Despite a flat revenue growth Cost of sales rose 14.6% to N15.4billion (2012: N13.5billion)
• Operating profit dropped 59% YoY to N1.6billion (2012: N3.9billion).
• Profit after tax was N2.8billion (2012: N3.1billion)
• Return on equity was 5.8% compared to 6.5% posted a year earlier.

Ashaka Cement first released its results in the website of the NSE