Earnings Flash: Ashaka Cement 3Q
Ashaka Cement is a listed subsidiary of Lafarge Group –the world leader in building materials based in France and with operations across 78 countries.
Ashaka Cement has released numbers that send mixed signals out to the market, citing a 60% decrease in Turnover from N 15 Billion in Q3, 2010 to N 6.3 Billion in Q3, 2011.
Despite the crash in earnings, the company still managed to book a 30% increase in Net Profit up to N 2. 4 Billion at the end of last September from N 1.9 Billion at the end of Q3, 2010.
The Company’s share price is currently trading at N 14.
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