UPDATE 1-Nigeria Benue Cement FY net profit jumps 230 pct

* Net profit 4.14 billion naira vs 1.25 billion

* Proposes 1 for 4 bonus issue (Adds details)

LAGOS, June 12 (Reuters) - Nigeria's Benue Cement Company (BCEM.LG), controlled by local private conglomerate Dangote Group, recorded a 230 percent rise in net profit in its year to Dec. 31, 2008, the Nigerian Stock Exchange (NSE) said on Friday.

The cement maker's net profit climbed to 4.14 billion naira ($28.23 million) from 1.25 billion naira in 2007, according to its financials released on the floor of the NSE.

The company's gross earnings soared 200 percent to 16.45 billion naira from 5.47 billion naira a year earlier.

The directors have proposed a bonus issue of one new share for every four held by shareholders in the company's register by July 6, 2009.

The 2008 results helped push the company's share price to the maximum 5 percent limit, closing at 34.66 naira on Friday.

Its fixed assets grew to 41.95 billion naira from 33.45 billion naira the previous year, while net assets were up at 13.75 billion naira from 9.60 billion naira.

Benue Cement's cash bank balances ballooned to 716.62 billion naira from 154.93 billion naira in 2007, but its stock value declined to 1.21 billion naira from 2.04 billion naira a year earlier. ($1=146.75 naira) (Reporting by Tume Ahemba; Editing by Randy Fabi; Editing by Hans Peters)