The double-digit rise in earnings was driven by increased revenue from $299.3 million to $454.1 million.
BUA Cement
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- Hot News
Nigerian billionaire Abdul Samad Rabiu receives $208 million in dividends from cement business
Rabiu is also on track to earn another $151.66 million in dividends from his newly consolidated food business, BUA Foods.
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Rabiu derives most of his fortune from his 98-percent stake in BUA Foods and 92-percent stake in BUA Cement.
- Latest News
Nigerian billionaire Abdul Samad Rabiu overtakes telecom mogul Mike Adenuga in Forbes ranking
Rabiu is now Africa’s fifth-richest man.
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Nigerian billionaire Abdul Samad Rabiu’s BUA Cement posts $79.7 million in profit in Q1 2022
The result suggests that it is on track to deliver yet another record performance at the end of Q2 2022.
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The multimillion-dollar surge in the market value of Rabiu’s stake can be linked to the year-to-date gains in BUA Cement shares.
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BUA Cement operates with a combined installed capacity of 8 million tonnes per annum.
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BUA Cement operates with a combined installed capacity of 8 million tonnes per annum.
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BUA Cement’s market capitalization is $5.7 billion, making it the fourth most capitalized company on the Nigerian Exchange.
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BUA Cement is the second-largest producer of cement products in Nigeria after Dangote Cement.