Cement News tagged under: Lafarge Africa
Lafarge Africa to sell 35% stake in Ghana operations25 January 2021, Published under Cement NewsFollowing an emergency meeting of its Board of Directors, LafargeHolcim-owned Lafarge Africa Plc reached an agreement to offload its 35 per cent holding in Ghana-based Continental Blue Investment after years of loss-making. The step is the second major divestment in less than two years after Lafarge Africa’s US$316m sale of its South African subsidiary in July 2019. Proceeds of this deal went to settling Lafarge Africa’s debt to Caricement BV in a debt-to-equity swap, improving the company... |
Lafarge Africa sees revenue increase 10%03 November 2020, Published under Cement NewsLafarge Africa has reported a 10.3 per cent YoY increase in revenue to NGN179.88bn (US$464.57m) for the 9M20, against NGN163.1m in the year-ago period. Its profit after tax from continuing operations also surged 37.5 per cent YoY to NGN28.2bn from NGN20.5bn. In the third quarter of the year, revenue advanced 31.4 per cent to NGN59.34bn from NGN45.17bn in the 3Q20. Profit after tax from continuing operations reached NGN4.87bn, up 2.8 per cent from NGN4.73bn last year. |
Lafarge Africa looks to scale-up Nigeria's road infrastructure14 October 2020, Published under Cement NewsLafargeHolcim Africa hosted a webinar on approaches to rapidly upscaling Nigeria's Economic Infrastructure, yesterday. Nigeria’s Honourable Minister of Works & Housing Guest of honour, Babatunde Fashola, led the discussions emphasising that the government is committed to renew, review and increase Nigeria’s infrastructure. Babatunde Fashola argued that Nigeria stopped investing in infrastructure in the 1970s and that it must get back to investing something similar today by investing a s... |
Nigeria in focus07 August 2020, Published under Cement NewsNigeria, Africa's biggest cement market, is still pushing the bar in terms of profits for cement companies at a time when other countries are struggling to overcome the financial constraints arising from COVID-19 and general apathy for cement demand. Nigeria has been at the head of the queue to see African cement demand recovering with BUA Cement and Dangote cement reporting an upturn in 1H20 sales, while exports have begun for Dangote. BUA Cement's 1H20 results saw a robust 12.7 per cent ... |
Lafarge Africa sees net profit rise 157% in 1Q2020 May 2020, Published under Cement NewsLafarge Africa has reported a 9.8 per cent increase in net sales to NGN63.97bn (US$178.93m) in its unaudited results for the first quarter of 2020, compared to NGN58.02bn in the year-ago period. Net profit surged 156.5 per cent YoY to NGN8.07bn from NGN3.15bn in the 1Q19. "I am proud of the plan Lafarge Africa has implemented to protect the health of our people while supporting our partners and communities. The first quarter results confirm that our turn around initiatives are effective a... |
Lafarge Africa narrows loss to NGN8.8bn in 201821 June 2019, Published under Cement NewsLafarge Africa reported a NGN8.8bn (US$24.4m) loss in 2018, compared with NGN34.39bn in the previous year. The company’s audited results have been released, showing revenue of NGN308bn, up from NGN299bn in 2017. Finance costs increased to NGN45.973bn from NGN43.217bn, while loss before tax reached at NGN19.508bn. A tax credit of NGN10.707bn reduced the loss after tax to NGN8.802bn. Lafarge will sell its entire stock of issued share capital in Lafarge South Afria Holding Ltd to Caricement ... |
Lafarge Africa posts 5% net sales increase18 October 2018, Published under Cement NewsLafarge Africa has recorded a five per cent increase in net sales for the 3Q18 period, rising to NGN72bn (US$198.3m) from NGN68.8bn. In the 9M18, net sales again advanced five per cent to NGN234bn. The positive performance in the third quarter was mainly driven by strong volume growth in Nigeria and favourable pricing trends in South Africa, according to the company. EBITDA for the 3Q18 was up 96 per cent YoY as a result of an improved performance in South Africa, while it fell eight per c... |
Lafarge Africa receives shareholder approval for NGN90bn rights issue27 September 2018, Published under Cement NewsLafarge Africa has received shareholder approval to raise NGN90bn (US$246.93m) of capital through a rights issue and to restructure its short-term shareholder loan. “The additional capital to be raised will further help to deleverage the company’s balance sheet and provide head room for the expansion of our business,” said Mobolaji Balogun, chairman of the board, Lafarge Africa. Michel Puchercos, CEO, stated that the company’s refinancing plan is aimed at preparing for future developme... |
Investors urged to finance Dangote and Lafarge Africa growth04 June 2018, Published under Cement NewsFollowing last month's approval of a NGN9.1trn (US$25bn) budget for 2018, Nigeria is set to go on a massive infrastructure spending spree. Eager to be at the forefront of cement supply, Dangote Cement and Lafarge Africa are urging foreign investors to get onboard. The budget is the nation's biggest-yet spending plan, says Bloomberg, with almost a third of it going into roads, rail, ports and power. Furthermore, with a major housing gap of 17m, which is expected to increase in line... |
Investors urged to finance Dangote and Lafarge Africa growth01 June 2018, Published under Cement NewsFollowing last month's approval of a NGN9.1trn (US$25bn) budget for 2018, Nigeria is set to go on a massive infrastructure spending spree. Eager to be at the forefront of cement supply, Dangote Cement and Lafarge Africa are urging foreign investors to get onboard. The budget is the nation's biggest-yet spending plan, says Bloomberg, with almost a third of it going into roads, rail, ports and power. Furthermore, with a major housing gap of 17m, which is expected to increase in line with a... |