H1: Lafarge increases revenue to N120.5bn

Lafarge Africa has generated N120.5 billion as revenue in the first half of the year 2020, a 2.3 per cent increase when compared to N117.9 billion reported in H1 2019.

According to the financial statements of the company for 2020 half-year released on Friday to the Nigerian Stock Exchange (NSE), the cost of sales also increased marginally to N78.8 billion from N78.4 billion, while the gross profit jumped to N41.7 billion from N39.5 billion.

According to the half-year results, the selling and marketing expenses reduced to N1.6 billion from N1.7 billion, while the administrative costs went down to N7.8 billion from N11.3 billion, with the other income down to N554.0 million from N1.3 billion and the operating profit up to N32.8 billion from N27.9 billion.

ALSO READ: Femi Fani-Kayode’s Zamfara title irrevocable ― Shinkafi

Commenting on the result, Khaled El Dokani, CCEO of Lafarge Africa stated: “Q2 results remained resilient with net sales of -5.1 per cent and recurring EBIT +29.7 per cent, compared to prior-year period, despite the impact of the COVID-19 pandemic. The implementation of our “Health, Cost and Cash (HCC)” initiatives had delivered considerable improvement in our performance.”

Further analyses into the result indicated that in the first six months of this year, the finance income of the cement company dropped to N377.1 million from N934.3 million, while the finance costs reduced to N4.4 billion from N13.3 billion.

However, the profit before tax increased to N28.8 billion from N15.5 billion, while the profit after tax jumped to N23.3 billion from N9.0 billion, with the earnings per share at N1.45 versus 98 kobo of H1 2019.

On the balance sheet, the total assets reduced year-to-date to N495.8 billion from N497.2 billion in FY 2019, while the total liabilities dropped year-to-date to N143.7 billion from N152.2 billion as at December 31, 2019.

 

YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE

NATIONA L chairman of the National Democratic Party (NDP), Chidi Chukwuanyi, says the state of corruption in the country calls for the replication of the Ghanaian experience under former President Jerry Rawlings in Nigeria. Rawlings,  known for his no-nonsense position against corruption, executed Ghana’s past… Read Full Story
Nigeria’s tally of confirmed COVID-19 cases on Saturday rose to 39,977 as 438 new infections were announced by the Nigeria Centre for Disease Control (NCDC)… Read Full Story
DISTURBED by the unabated killings in the Southern Kaduna and other parts of the country, the Middle Belt Forum  (MBF) has called on President Muhammadu Buhari to resign or be ready to secure the lives and properties of the citizens… Read Full Story
NOTABLE Nigerians, including the leader of Yoruba socio-cultural organisation, Afenifer, Chief Ayo Adebanjo, on Saturday,  played the Federal Government over the reintegration of 601 repentant Boko Haram terrorists at the weekend… Read Full Story
AGAINST the backdrop of the ravaging COVID-19, some state governments in the South-West have said that primary and post-primary schools will remain shut in the face of COVID-19 pandemic. Osun State Commissioner for Education,  r Folorunso Bamisayemi Oladoyin on Saturday said the state government was… Read Full Story
The Governor of Kaduna State, Mallam Nasir El Rufai has expressed support the Federal Government for increasing the fare on Abuja-Kaduna train service from N3,000 Business class to N6,000 and N1500 Economy… Read Full Story
HASSAN Ayariga, founder of the All Parties Congress (APC) of Ghana, in a recent viral video, publicly reminded Nigerians that their country had become a butt of jokes in international discourses. Right before our very eyes, Ayariga rudely poked his hands into our eyeballs. Nigerians are, however, taking the insult in their… Read Full Story
IT is no news that the Holy pilgrimage to Mecca this year would not happen as it has been restricted to those within Saudi Arabia. However, the killing of rams as a significant sacrifice during the annual festival would take place all the same… Read Full Story
The Church is one of the institutions that severely felt the impact of the coronavirus pandemic as some states are yet to lift ban on religious gatherings. Lagos, which is one of the states feeling the heat of the pandemic the most in Nigeria, fashioned out different measures to combat the deadly virus from spreading and the… Read Full Story
There is no scintilla of doubt that university education in the country is grossly and abysmally underfunded by successive administrations. Let me quickly give you some statistics so that you will not think it’s all about my imagination. In the 2018 budget, education was allocated seven per cent of the total budget; in 2019, it was 7.02 per cent and in the 2020 budget, it was reduced to 6.7 per cent, whereas… Read Full Story
Growing up was quite very interesting. It was fun and I had very excellent and wonderful parents. They were very godly and inspired me a lot. They instilled the right morals in me and I must give them the credit. I went to a private school and I was brought up godly parents until I lost my mum when I was 16… Read Full Story
With the emergence of the candidates of the two major political parties in Ondo State, the Peoples Democratic Party (PDP) and the All Progressives Congress (APC) ahead of the governorship election, history will be repeating itself as two Senior Advocates of Nigeria (SANs), among other contestants… Read Full Story
You might also like
Comments

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. AcceptRead More