Lafarge Africa sinks deeper into losses in 2017


Nigeria’s second-largest cement producer, Lafarge Africa said it made a loss before tax of N34.03 billion compared.

The result showed that the company’s fortunes further dwindled compared to 2016 when it declared a N22.82 billion loss before tax.

Gross revenue for the period rose to N299.15 billion compared to 2017 when it reported a gross revenue of N219.71 billion.

Despite its losses, Lafarge said it will pay its shareholders an average dividend of N1.50k per share.