Lafarge Africa records N308bn turnover in FY 2018
Lafarge Africa Plc, a member of the LafargeHolcim Group, has declared revenue of N308.4 billion for the full year ended December 2018.
The company’s operating profit increased by 215% for the year ended December 2018. The financial report of the company for the year under review reflected a stabilization of cement selling price in addition to 9% growth in cement dispatched in Nigeria.
In addition, improvements in cost and execution of the company’s new route to market had a positive impact on operating profit, which increased from N7.9bn in 2017 to N24.8bn in 2018.
Addressing shareholders at the Annual General Meeting of the company, the Chairman of the Board, Mobolaji Balogun, assured shareholders that the board and management would continue to drive improvements in results.
“Despite the challenging economic and regulatory operating environment, the company has continued to make significant progress on a number of fronts, thereby ensuring solid operating performance.
“The Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) margins in the Nigerian operations stood at 27% at close of the year, resulting from a stable pricing environment, stabilising industrial operations, the use of alternative energy and the implementation of our commercial and logistics performance improvement plan,” Balogun said.
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