Connect with us

Brand

BUA Cement Records Fastest Profit Expansion Among Cement Competitors

Published

on

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.

Brand

Airtel Nigeria Appoints Kemi Ariyo And Dhillon Hermanpreet As Directors

Published

on

Airtel Nigeria Appoints Kemi Ariyo And Dhillon Hermanpreet As Directors

Rashidat Okunlade Writes

Leading telecommunications service provider, Airtel Nigeria, has announced the appointment of two directors to join its executive leadership team.

The company named Kemi Ariyo as the new Director of Information and Technology and Harmanpreet Singh Dhillon as Director of Network Transformation and Planning.

According to Airtel, both appointments are set to bring about a new era of innovation and growth within the business.

Speaking on the recent appointments, Chief Executive Officer, Airtel Nigeria, Carl Cruz, said the notably experienced Kemi Ariyo will play a pivotal role in driving Airtel Nigeria’s digital transformation efforts and the company is pleased to elevate an excellent female leader within its ranks to the position.

On his part, Cruz stated that Mr. Harmanpreet will spearhead the telecom giant’s network transformation initiatives, geared towards strengthening its infrastructure and ensuring steady services for subscribers.

“We are thrilled to welcome Kemi and Harmanpreet on board. Their in-depth expertise and experience will be invaluable in driving our technological transformation and delivering exceptional experiences to our over 60 million users. We are confident that, with their experience and expertise, Airtel will continue to innovate and stay ahead while developing cutting-edge solutions to meet the evolving needs of our customers,” Cruz said.

Airtel Nigeria Appoints Kemi Ariyo And Dhillon Hermanpreet As Directors

Kemi Ariyo

Harmanpreet Singh Dhillon, the company revealed, brings an impressive background experience of over 23 years in the telecommunications industry and a passion for driving technological advancements.

Previously, he had served in various capacities across different organizations, including Vodafone, Nokia, Huawei, and was Chief Technology Officer at One Airtel in Karnataka, India, where he was responsible for leading the technology strategy, forecasting, expansion, operations, cost optimization, and capex planning for the networks team.

Kemi Ariyo also brings years of cross-industry and cross-continental career experience across the IT value chain with a track record of providing technical solutions geared towards service efficiency, customer experience, and business profitability.

Her contribution to Airtel started from her days as a Business Operations Analyst, under the management service at IBM, where she moved into several leadership roles until she fully joined Airtel in 2017.

Recall that Airtel recently completed the first batch of staff promotions for its financial year 2023/24. This promotion cycle saw the elevation of no fewer than 20 employees into senior leadership roles, out of whom three were women, and one out of these women was elevated to a vice president position.

 

Continue Reading

Brand

Airtel Nigeria Partners Top Device Manufacturers To Drive 5G Adoption

Published

on

Airtel Nigeria Partners Top Device Manufacturers To Drive 5G Adoption

Rashidat Okunlade Writes

Airtel Nigeria has announced its partnership with renowned manufacturers of 5G-enabled devices. The partnership is in line with Airtel’s commitment to enhance innovation, improve customer experience, and drive the adoption of 5G technology to transform various aspects of customers’ daily activities.

According to the Chief Commercial Officer of Airtel Nigeria, Femi Oshinlaja, the strategic partnership is not only to increase access to the latest technological advancements but also to encourage consumers to take advantage of the vast potential of 5G connectivity.

“Our partnership with leading 5G device manufacturers like Samsung, Tecno, and Infinix is a testament to Airtel’s commitment to providing our customers with access to the latest technological advancements. We believe that through this partnership, consumers will not only gain awareness about the potential of 5G but also access devices that enable them to fully embrace the benefits of this transformative technology,” he said.

A notable highlight of this partnership is the exclusive data package provided for users of the Samsung Galaxy Z Fold 5. For just 2000 naira, customers can enjoy a generous 10GB of data, allowing them to explore the vast potential of 5G connectivity.

Airtel’s partnership with smartphone manufacturers has also enabled the introduction of the lowest-priced 5G device in Nigeria such as the Samsung A14 5G, Samsung’s flagship fold and flip 5, Infinix Hot 30 5G, Tecno Camon 201 and Tecno Spark 101.

 

Continue Reading

Brand

Jumia Kicks Off Brands Festival 2023

Published

on

Jumia Kicks Off Brands Festival 2023

…Consumers enjoy exclusive offers from several top brands

Rashidat Okunlade Writes

Jumia, the leading e-commerce platform in Nigeria, has announced the launch of its annual brands festival campaign, targeted at promoting authentic products across a wide range of categories at the best prices directly from top brands on the platform.

 

The campaign tagged “Beta products, Beta savings,” starts on Monday, September 4th and will run through September 17th, 2023, offering millions of consumers nationwide the opportunity to buy original products from the official stores of several top brands such as Adidas, Oraimo, Nivea, Xiaomi, DeFacto, Tecno, Pernod Ricard, Infinix, Diageo, Itel, L’Oréal, Bacardi, Binatone, and Haier Thermocool.

 

In these challenging times, the essence of the Jumia Brands Festival takes on even greater significance. We are not only championing authentic products, but also making them accessible at the most competitive prices. We understand the constraints faced by today’s consumers – the need for quality products that don’t break the bank. Our collaboration with renowned international brands bridges the gap, ensuring that consumers can work within their budgets while obtaining genuine items,” said Massimiliano Spalazzi, CEO Jumia Nigeria.

 

As a young Global Company, TECNO is in the process of rapid growth. Our target consumers are motivated and non-stop pursuing innovation. Bonding between brand and our target consumers, non-stop for Excellence,” said Thompson Ani, Brand Marketing Manager TECNO.

 

Consumers can take advantage of the amazing offers during the campaign by simply downloading the Jumia App. The campaign will feature Treasure Hunt, Brand Days, Deals of the Day, and Flash Sales, where consumers can get further discounts on a number of products. The campaign is also providing free shipping on a wide range of products to consumers within Lagos, Abuja, Ibadan, Warri, Benin, Abeokuta, Akure, and Port Harcourt.

Continue Reading

Trending