Nigeria’s second-largest cement maker, Lafarge Africa Plc sad its net profit for the first six months of the year fell to N3 billion.
The result showed a major decline given that the company reported a net profit of N19 billion last year.
It is a fact that Lafarge’s fortune had waned in the last 24 months.
Total revenue for the period rose N162 billion compared to N154 billion recorded same period last year.
Lafarge directly competes with Dangote Cement Plc, BUA and Ibeto in Africa’s largest economy.
Here are the key highlights of the reports:
The company reported revenue of ₦162.29 billion for the period ended June 2018 compared to ₦154.84 billion reported for the period ended June 2017. This represents a 5% increase for the comparative period in 2017.
Profit/Loss Before Tax
Loss before tax was ₦6.35 billion for the period ended June 2018 as against profit before tax of ₦18.16 billion reported for the period ended June 2017.
Profit/Loss After Tax
The company’s loss after tax for the half year ended 30th June 2018 was ₦3.9 billion as against profit after tax of ₦19.7 billion recorded in H1 2017.
Earnings/Loss Per Share
Lafarge also reported loss per share of 45 kobo for the period ended June 2018 as against earnings per share of 368 kobo reported for the comparative period in 2017.
Current Share Price
Lafarge Plc is currently trading at 29.30, down 9.85%