ByInvestAdvocate

Lagos (INVESTADVOCATE)-Cement producer, Cement Company of Northern Nigeria Plc (CCNN) (Sokoto Cement) on pretax profit for the period ended December 31, 2017 rose 141.4 percent to N4.20 Billion from N1.74 posted a year ago.

Post-tax profit of the company in the review period increased 157.1 percent to N3.22 billion from N1.25 billion declared the corresponding period of 2016.

Revenue of the cement producer grew from N14.08 billion in 2016 end to N19.58 billion declared in the review period of 2017; showing a growth of 39.0 percent, CCNN said in a filing with the Nigerian Stock Exchange (NSE).

The company in its corporate action to the NSE proposed a dividend of N1.25 kobo per share to its investors for the 2017 financial year end compared to zero dividend declared in 2016; which the board explained was to ensure the long term survival of the company.