Lafarge Africa posts NGN937 million profit in nine months

Lafarge

Lafarge Africa plc in its financial report for the nine months ended in 2017 is reporting NGN937.9 million net income compared to NGN37.4 billion loss recorded in the same period in the year 2016.

The cement company said its revenue for the period was higher at NGN233.6 billion in contrast to NGN161.0 million reported in the previous year while gross income remained at NGN57.3 billion against NGN18.1 billion posted in the year before.

The company’s operating income rose to NGN18.4 billion in contrast to NGN32.9 billion operating loss reported in the fiscal year 2016.

Lafarge Africa plc’s total assets for the period in review was NGN809.5 billion compared to NGN502.9 billion recorded in the year 2016 while total liabilities was NGN310.7 billion against NGN175.9 billion in the year before.

Company Information

Lafarge Africa Plc is a building materials company. The Company’s segments include Nigeria and South Africa. Its subsidiaries include Lafarge Ready Mix Nigeria Limited, AshkaCem Plc, Atlas Cement Company Limited, LSAH, The United Cement Company of Nigeria Ltd (UniCem) and Egyptian Cement Holdings (ECH). Lafarge Ready Mix Nigeria Limited is in the business of producing ready mix concrete for the construction industry.

The Company, through its Lafarge Ready Mix Nigeria Limited operations with eight batching plants, is producing concrete and aggregates solutions from its various locations in Nigeria. LSAH is a holding company. AshakaCem Plc is a cement manufacturing company. UniCem is a cement manufacturer and supplier of cement. UniCem has a production capacity of 2.5 million tons. WAPCO Operations is the South-West operations of Lafarge Africa Plc. The product portfolio includes five products, such as Elephant Cement, Supaset Cement, Powermax, Etex and Sulfate Resistant Cement (SRC).