Nothing will stop ASHAKA cement, not even the disruption of the company’s activities by insurgents in 2014, Ashakacem Plc has posted a profit of N4.566 billion as profit in the last financial year, just as it paid N4.5 kobo dividend on every ordinary share held, representing 7.1 per cent increment on that of the previous year.
The chairman of the board, Mallam Suleiman Yahaya, stated this during the firm’s 40th Annual General Meeting (AGM) in Abuja, yesterday, said the performance was made possible despite the loss of a whopping N2.5 billion to insurgents on its facilities towards the end of last year.
The company, which is located in Gombe State, North East of the country, had its production activities disrupted by insurgents suspected to be the Boko Haram. He said the incident almost led to the shut down of the plant as more than 500 workers fled the facilities, thereby forcing the management to scale down their operations. He further stated that, “Two insurgency attacks suffered by the company in November and December 2014 greatly affected the operation of the company and up until now, nobody knows the intention of the attackers, but the management, however, is gradually restoring normalcy in the plant.
The chairman gave an analysis about the company’s record in 2014, saying the company had a total comprehensive income of N5 billion in 2014, compared to the N2.6 billion it recorded in 2013. He said the company planned to invest in a significant expansion of its cement production capacity to four million metric tonnes from its current approximately one million metric tonnes, partly with internally generated funds.
The managing director/chief executive officer of the company, Leonard Palka, attributed the 84.5 per cent increase in profit before taxation over, he pledged that the firm will collaborate with the incoming administration of the president-elect, General Mohammadu Buhari, to restore peace and meaningful development in the area as well as bring down the cost of cement in the interest of the masses.
The chairman finally stated that, “Ashakacem will get the support of the Buhari’s administration for the reconstruction of the North East economy and that of Nigeria in general.

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