• World
  • Columnist
  • Commodities
  • WORLD BUSINESS & ECONOMY
  • Executive Knowledge Series
  • Finance
  • Manufacturing
  • Markets
  • Risk & Governance
  • Small Business
  • Technology, Media & Innovation
  • Comments
  • Business AM WebTV
  • Login

Businessamlive
  • FRONTPAGE
  • FINANCE
    • AllAsset ManagementAuditBankingBondBudgetCapital MarketsC&I LeasingCurrencyDealDebt marketForexFund RaisingFundingGovernmentHedge FundsInsuranceInvestmentInvestorInvestor ServicesMergers & AcquistionsMoney marketTreasury BillsMortgagePensionsPersonal financePonziQuantitative EasingshareTaxationTSAWealth Management
      Finance

      Amidst N32.22trn public debt, analysts say Nigeria’s external debt service manageable

      3 hrs

      Finance

      Stringent regulations, business environment forced Stanbic IBTC out of BDC business

      January 15, 2021

      Finance

      Cautious equities trading see gains in Flour Mills, Mobil, Wapco push market cap to ₦21.09trn

      January 15, 2021

      Finance

      CBN issues guidelines for QR codes operation in Nigeria

      January 15, 2021

  • MARKETS
  • ECONOMY
    • AllAfricaAgricAirportsAmericaAsiaAustraliaBreakthroughDealEuropeForeign InvestmentsforexGlobal marketGovernanceIMFMiddle EastNECANigeriaOutlookRich listSouth AfricaSport BusinessTradeU.KWest AfricaWorld Economic forum
      WORLD BUSINESS & ECONOMY

      Uber leads with 30% as 10 biggest startup layoffs in 2020 reach 25,000

      < 1 min

      Companies

      TIPP Oil, German lubricant maker, targets 2021 Nigeria launch with eco-friendly scheme  

      < 1 min

      Technology

      Africa data centre market to outpace $3bn by 2025, says Turner & Townsend

      21 hrs

      Commodities

      Wheat soars as Russia considers export tax

      21 hrs

  • COMMODITIES
  • ENERGY
    • AllConferenceElectricityOil and GasPowerRenewable
      Companies

      TIPP Oil, German lubricant maker, targets 2021 Nigeria launch with eco-friendly scheme  

      < 1 min

      Frontpage

      Nigeria aims for cost efficiency, safety, value in oil sector with centre of excellence

      58 min

      Frontpage

      Sustainable energy: Minister estimates solution to cost Nigeria $4bn in annual spend

      3 hrs

      Frontpage

      NNPC receives $120.49m crude oil receipt in September  

      January 18, 2021

  • TECHNOLOGY
  • MANUFACTURING
  • ANALYSIS
    • Analyst Insight

      CBN meeting and NSE in focus

      January 18, 2021

      Analyst Insight

      Once again, fiscal stimulus takes centre stage

      January 18, 2021

      Analyst Insight

      Organisations must learn from the WhatsApp story  

      January 18, 2021

      Analyst Insight

      Data privacy maturity model in organisations

      January 11, 2021

Frontpage

Lafarge Africa reports 173% growth in nine months

October 29, 2019352 views0 comments

Lafarge Africa Plc, a subsidiary of LafargeHolcim, a regional dealer in building materials, on Monday announced over 173 per cent profit in its nine months of operations.

In its quarterly performance report to the Nigerian Stock Exchange, the company said its operating profit rose from N2.79 billion in the third quarter of 2018 to over N7.64 billion in the corresponding period of this year.

Lafarge Africa cement operations are in the South-west (Ewekoro and Sagamu in Ogun State), North-east (Ashaka, in Gombe State), South-east (Mfamosing, Cross Rivers State) with Ready-Mix operations in Lagos, Abuja and Port Harcourt.

The company, which significantly de-leveraged with net financial debt reduction of about 79.2 per cent, has a current installed cement production capacity of 10.5 Metric tons per annum.

Read Also:

  • Africa: Economic Year in Review 2020
  • Africa opens world’s largest single market (3)
  • Africa data centre market to outpace $3bn by 2025, says Turner & Townsend
  • Moody’s sees negative 2021 outlook for sub-Saharan Africa, with severe…
  • DHL invests 126.5m rand in South Africa’s retail warehousing, logistics…

The report said the company recorded a strong third quarter earnings before interest, tax, depreciation and amortization increase by 32.7 per cent N8.6 billion to N11.4 billion, third quarter finance costs declined by over 70.6 per cent.

The company also recorded a positive net income for four consecutive quarters, with a successful divestment from Lafarge South Africa Holdings.

The Chief Executive Officer of Lafarge Africa, Michel Puchercos, stated: “Our Strategy 2022 -building for growth – in Nigeria is delivering the expected results with strong EBITDA and operating profit improvement, robust net income and operating cash flow development.

“Our turnaround and cost reduction strategy in the third quarter continue to deliver strong margins with improvement in commercial transformation, logistics performance, industrial & energy efficiencies. Our ambition is to continue the acceleration of growth and earnings in fourth quarter.”

Share on Facebook Tweet Email
PreviousConsequential adjustment depends on ability to pay, govs Insist
NextConvert Arik to national carrier, AMCON MD tells FG

Leave a comment

- Cancel reply

MARKET DATA

Market Videos

Recent Posts

  • Uber leads with 30% as 10 biggest startup layoffs in 2020 reach 25,000
  • TIPP Oil, German lubricant maker, targets 2021 Nigeria launch with eco-friendly scheme  
  • Nigeria’s pension fund assets rise by N238bn in November, says PenCom
  • Nigeria equities opened weak on selloffs in large caps DangCem, FBN, Flour Mills
  • Nigeria aims for cost efficiency, safety, value in oil sector with centre of excellence

World

Africa

Buhari, Okonjo-Iweala congratulate Adesina over reelection as AfDB President

Europe

EU businesses to cut investments in 2020, says EIB report

America

U.S. increases cost of visa application for Nigerians

Africa

Thatcher-Loving Nigeria Candidate Plans to Overhaul Economy

Africa

AfDB scales up industrialization pace on the continent, delivers improved business access to finance, skills, energy

Frontpage posts

0

Global oil prices to stay high, averaging $70 per barrel for the rest of 2018

Frontpage June 13, 2018

1
2

Electric vehicle growth could see oil demand peak by 2030 – Fitch

Frontpage February 20, 2018

3

Bitcoin rebounds above $8,000 after regulators spare tough reprisals

Frontpage February 7, 2018

4

Nigeria equities opens week still upswing with 0.27% rise in benchmark index

Frontpage August 7, 2017

5

FG orders investigation into Skye Bank’s failure, says those culpable would be prosecuted

Frontpage October 5, 2018

SUPPORT

  • Photo Gallery
  • Help Centre
  • About Us
  • Accessibility

LEGAL & PRIVACY

  • Terms & Conditions
  • Privacy
  • Cookies
  • Copyright

SERVICES

  • Conferences & Events
  • Analysts Research
  • Advertising Rate
  • Ebooks

TOOLS

  • Portfolio
  • Newsletters
  • News feed
  • Currency Converter

SUBSCRIBE

Join us to get latest updates on business related news.

[mc4wp_form id="3076"]
  • ABOUT US
  • CONTACT US
  • CAREERS
  • TERMS & CONDITIONS
  • PRIVACY POLICY
Copyright 2017. All rights reserved. BusinessAMLive. A Businessnewscorp Member Company.