Abdul Samad Rabiu, Chairman of BUA Cement Plc says he has donated almost N2bn in bonus gifts to employees of the company in recognition of their effort at keeping the company profitable, despite the pandemic and predictions of a tough year.

A statement by the company recalled that despite the pandemic, BUA Cement remained one of the most profitable companies in Nigeriadeclaring a Profit After Tax of N72.3bn, representing a 19.4% increase over that of the corresponding period in 2019.

The statement quoted Abdul Samad Rabiu as stressing the importance of recognizing the effort of key staff who worked tirelessly despite the 2020 pandemic to keep the company on a strong footing even putting it in better stead to stay profitable for the foreseeable future.

“As we head into another year of record profits, this share bonus for our employees is only the right thing to do. By doing so, our core employees are better placed to benefit from BUA Cement’s future successes which they continue to help deliver,” Rabiu was quoted as saying.

It should be noted that despite the pandemic and attendant economic slowdown, BUA Cement Plc declared a 19.3% increase in revenues to N209.4bn in 2020 from N175.5bn, as of FY2019. The company also declared Profits After Tax of N72.3bn representing a 19.4% increase over the corresponding period in 2019.