Lafarge Africa Plc reported revenues of N59.34 billion in Q3 2020 compared to N45.17 billion in the corresponding period of 2019.
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Key highlights – 2020 Q3
- Revenues increased by 31.4% from N45.17 billion to N59.34 billion YoY.
- Revenues from cement increased to N58.17 billion, +32.2% YoY.
- Revenues from aggregate and concrete decreased to N1.17 billion, –1.31% YoY.
- Gross profit increased to N13.8 billion, +14.15% YoY.
- Pre-tax profits increased to N5.53 billion +18.10% YoY.
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Bottom Line
Lafarge Africa Plc got a major boost from an increase in its cement revenue-generating unit, but revenues from aggregate and concrete decreased.
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Though companies have generally recorded decreased revenues in the last three quarters mostly due to COVID-19, Lafarge Africa Plc was able to increase its total revenues, as well as pre-tax profits. The results confirm Lafarge Africa Plc’s COVID-19 action plan – Health, Cost, and Cash is yielding a positive impact
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