Latest News

Lafarge CEO Claims “good times” despite possible 2018 loss

The Chief Executive Officer of Lafarge Africa Plc, Mr Michel Puchercos, said the the cement maker is on its way back to profitability. But available figures dispute this claim.

Speaking recently in Gombe State during a customer appreciation event, the CEO claimed that the company is finally reaping the benefits of a recent business transformation exercisewhich, supposedly, improved its operational efficiency and relationship with its customers.

In his own words:

“our new strategy has started to deliver results and we are on a new path of profitable growth.”

Speaking further, the CEO expressed the company’s commitment to relate better with customers whom he also referred to as partners. This is because the customers are the ones that have helped the company to maintain its market share, according to Mr Puchercos.

But the company might have ran at a loss last year

According to information contained in the company’s recently released third-quarter result for the period ended September 30th 2018, it ran at a loss after tax of N10.3 billion. What this means, therefore, is that Lafarge Africa Plc could, most possibly, declare a full-year loss for 2018.

Meanwhile, a possible full-year 2018 loss for Lafarge Africa Plc would not be the first in recent times.

No thanks to stiff competition posed by the likes of Dangote Cement Plc and BUA Cement, the company has been struggling to maintain profitability.

Little wonder the company ran at a N7 billion full-year loss in 2017, compared to a N19.8 billion profit after tax in full-year 2016.

About Lafarge Africa Plc

The company, which was incorporated on February 24th 1959, is majority-owned by Zurich-based Lafarge Holcim. This makes Lafarge Africa a subsidiary of the company.

READ MORE:  China’s Youngest Female Billionaire Sells Sydney Penthouse at a Loss

The company is listed on the Nigerian Stock Exchange (NSE), where it enjoys a Premium Board classification.

It has a market capitalisation of N112,754,567,120.00, and its stock is currently trading at N13 pet share.

aihs
Previous ArticleNext Article

Leave a Reply

Your email address will not be published. Required fields are marked *

Translate »
Share via
%d bloggers like this: