Lafarge Cement Zimbabwe sees revenue advance 104%

Lafarge Cement Zimbabwe saw its profit for 2019 rise to US$178m, while volumes remained flat YoY at 323,000t. Gross profit increased 251 per cent to US$496m from US$141m in 2018.

Kumbirai Katsande, chairman of the company, attributed the improved margins to agile pricing and disciplined cost management.

The company saw its revenue advance 104 per cent YoY to US$919m in 2019, compared to US$449m in the previous year.

It also started the implementation of a US$25m capex programme, which will see it expand cement milling capacity, automate the dry mortar mix plant, while also improving power supply and cement storage.