By Nkiruka Nnorom
LAGOS—LAFARGE Africa Plc has announced N8.43 billion in operating profit for the first quarter ended March 31, 2019, up 35 per cent from N6.26 billion in Q1, 2018.
The company also announced divestment of its entire 100 percent shareholding in Lafarge South Africa Holdings for cash consideration of N114.1 billion.
Highlights of the company’s Q1’19 financial statement showed that its Earnings Before Interest, Tax, Depreciation and Amortization (pre-IFRS 16) expanded by 6.7 percent to N15.11 billion from N14.16 billion in Q1’18.
Lafarge Africa opens N89.1bn Rights Issue(Opens in a new browser tab)
However, the net sales decreased by 2.6 percent to N78.51 billion from N80.64 billion in Q1’18.
In his remarks, Chief Executive Officer of Lafarge Africa, Michel Puchercos said that implementation of the company’s new strategy 2022 is expected to further improve operational and financial performance.
He stated: “Our Strategy 2022, Building for Growth…