Lafarge Nigeria pretax profits more than doubles

Lafarge's Nigerian unit, WAPCO, said its full-year pretax profit more than doubled to NGN21.26bn (US$134.26m), compared with NGN10.34bn  a year ago.

Turnover also rose to NGN87.96bn during the period, from NGN62.50bn a year ago, it said.

Lafarge WAPCO, a listed company in which Lafarge has a 60 per cent share, operates three adjacent plants in Ewekoro in Ogun State in southwest Nigeria with 4.5Mta of capacity, following a capacity increase programme in 2011 and 2012.