Lafarge Africa Plc: Increase in cement sales boosts revenues

Lafarge Africa Plc reported revenues of N59.34 billion in Q3 2020 compared to N45.17 billion in the corresponding period of 2019. 

READ: N4.16 billion unpaid lottery revenue recovered by EFCC

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. 

READ: FG records revenue of N676.41 billion in July

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.

READ: Kano State presents N147.9 billion budget for 2021 fiscal year

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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