Olushola Okunlade Writes

BUA Cement Nigeria Plc has proven to be resilient in the face of macroeconomic headwinds as it recorded the fastest profit expansion among the dominant players in the industry.

The company has been recording double-digit growth in earnings since it was listed on the Nigerian stock exchange in January 2020 to become one of the most capitalised firms in Nigeria.

BUA Cement sustained its excellent performance in 2022, delivering a profit after tax (PAT) expansion of 12.42% year on year (yoy), relatively better performance when compared to Lafarge Africa (+5.10% yoy) and DANGCEM (4.90 % yoy).

In short, BUA Cement continues to outpace its rivals with double-digit growth at the bottom line (profit), it will overtake Dangote Cement as the largest firm by profit in the cement industry.

The cold commissioning of the Sokoto line 4 cement plant earlier in 2022 raised BUA Cement’s total installed capacity to 11.0MMTPA from 8.0MMTP, according to data from the company website.

Looking ahead, the company’s management plans to diversify energy sources by integrating solar energy on a limited scale of up to 10MW in 2023.

Of course, cost management and sales expansion will underpin profit margins this year, and such improvement is expected to deliver higher returns to shareholders in the form of bumper dividends and share appreciation.

It is worth noting that the company and peer rivals benefit from a price hike, which is significantly responsible for the revenue uplift.

However, inflationary pressures and volatility in currency still remains a downside risk to operating cost.

Analysts at Chapel Hill Denham Limited in research note said BUA Cement’s volume is now expected to come in at 7.4mmt, translating to a capacity utilisation of 52.0% based on an installed capacity of 14.0mmt per annum.

The cement maker’s operating profit spiked by 24.46 percent to N129.71 billion in December 2022 from N104.22 billion as of December 2021.

It trades at a price-to-earnings multiple of 33.30 while its shares trade at N92.45 as of March 1, 2022.

Olushola Okunlade Writes

Seven Up Bottling Company has announced a rebranding of its 7Up product with new packaging and identity. 

According to the company, the rebranding exercise happened to be 7Up first major overhaul in over seven years

PepsiCo, an international distributor has announced the rebranding of the 7Up product. The rebranding exercise is said to be the first major redesign in the last 7 years. Mauro Porcini, who spoke about the rebranding exercise said that the decision to rebrand aligned with the new “UPliftment’ brand strategy which would increase its international positioning.

He added that the new design which was launched with the expression, ‘New Get Up, Same 7UP’ would be used everywhere 7UP and 7UP Zero Sugar are sold.

“UPliftment is a concept that resonates with people globally. Our new visual identity for 7Up was inspired first and foremost by the brand’s creation of moments of UPliftment throughout its history.

“The PepsiCo design and innovation team created a bright and confident visual identity system that will echo across cultures, regions, and languages. The new 7UP features the brand’s signature punchy green, but with added citrus hues and distinct high-contrast lines that portray a feeling of upward energy.”, Porcini said.

7UP Vice President, Global Brand Marketing, Eric Melis also commented on the rebranding exercise saying ” “We’re excited to shine a light on our international positioning and reveal our visual identity system to the world. 7UP has always provided people with refreshing UPliftment through consumption and that’s why it feels like a natural fit for us to drive this narrative forward and center UPliftment within everything we do.

“We’ve got one brand with two great product offerings, and we can’t wait for the world to see what else we have planned.”

Melis also disclosed that the new identity would be taking effect globally on 7Up products in March 2023.

Olushola Okunlade Writes

Leading telecommunications services provider, Globacom, on Saturday, February 18, 2023, won the Telecom Company of the Year award.

The award, organised by Daily Independent newspapers, was in recognition of Globacom’s commitment to serving the people of Nigeria with the best telecommunications services.

The event, held at the prestigious Convention Centre of Eko Hotel and Suites, was well attended by the creme of the society and awardees who included outstanding individuals and organisations that have positively continued to impact the people and the country.

In a citation read on Globacom, preceding the presentation of the award, the company and its Chairman, Dr. Mike Adenuga Jr., were praised for the passion and commitment that ensures the birth of Globacom and how the company broke the conventions to ensure that Nigerians were served better telecommunications services at the most affordable costs.

“In August 2003, Glo Mobile was launched in Nigeria. Glo Mobile introduced lower tariffs, pay-per-second billing, and alongside other value-added services,” the citation noted.

“As Nigeria’s Second National Carrier, Glo was the first company to launch operations on Per Second Billing. Driven under the visionary leadership of Dr. Mike Adenuga, Jr., the network pioneered the billing system in Nigeria in 2003, even when older networks said it was impossible. “

This development, the citation noted, “stirred many sectors in the economy, thereby empowering millions of Nigerians.”

Receiving the award on behalf of the company, Mr. Zakari Usman, Globacom’s Head of Enterprise Business, commended the organisers for considering the people’ -oriented strides of Globacom. He promised that the company would forever remain focused on the trajectory of bringing the best services to Nigerians and helping to empower them.