Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Markets Equities Company Results

Lafarge Plc reports impressive 65% growth in profit for FY 2021

Chidinma Anyalewechi by Chidinma Anyalewechi
March 1, 2022
in Company Results
Lafarge Africa provides grant for startups, Lafarge Africa’s latest earnings report reveals 8.5% decline in gross profit , Lafarge Africa gets new CFO one month after resignation of former finance director, Lafarge Plc reveals why it invited Italian man with Coronavirus to Nigeria, Lafarage Africa group Plc posts a revenue of N213 billion in 2019, profit up N17 billion, Lafarge moves to sell 35% shareholding in Continental Blue Investment Ghana Limited

Lafarge Africa Plc

Share on FacebookShare on TwitterShare on Linkedin

Lafarge Plc released its FY 2021 results reporting a profit of N51 billion, representing 65% increase year on year.

The result is on the back of an inflationary year, where cement prices had experienced a consistent increase within the period thereby increasing the company’s sales.

A further look at the result shows that the company’s profit was driven by a significant rise in sales of the company’s segments, that is, Cement, aggregate and concrete, and other products.

RelatedPosts

Nigeria’s PZ Cussons fights off inflation to post 277% rise in profits

MultiChoice blames FX Challenges for ZAR367m loss in Nigeria

All the company’s segments delivered a revenue of N293 billion in the full-year period compared to N231 billion in the same period of 2020. Revenue growth from the largest segment, cement sales, was at 26% year on year.

While revenue from sale of mortar was more than double at 231% Y-o-Y. Cement sales for the period generated N285 billion, aggregate and concrete sales raked in N7.63 billion, reflecting an improvement of 78% year on year. Revenue earned from sale of mortar was recorded as N338 million.

The company also made money from gains on the disposal of property plants and equipment, as well as, from below-market interest rate government loans, and sale of scraps.

Lafarge Plc full-year performance was on the back of inflationary pressures, as the industry witnessed price corrections by producers to cover for the increase in production costs and hedge against inflation.

Also, aggressive marketing could be a contributor to the driver of sales as advertising expenses surged by a whopping 33%, growing from N781 million a year earlier to N1.04.

As reported by Nairametrics, Lafarge, just like its peers, also increased its cement price from N2,400 to N3,600 as of April 2021 representing a 50% increase in the price of cement within four months and selling for around N4,000 towards the end of the year. As the company reviewed its product prices north-ward during the year, it explained that it was necessary in order to offset some of the inflationary pressures. More details on the driver of revenue will be revealed during the company’s earnings call event yet to be announced.

Although the company recorded growth in topline revenues, expense line items also rose with selling and distribution expenses up 21% YoY. While administrative expenses grew by 16% compared to the prior-year period.

Lafarge Plc has proposed a final dividend of N1.00 per share for FY 2021, taking the total dividend payment for the period to N2.00 kobo, after interim dividend payment of N1.00 kobo. the company last traded at N26.00 per share and has returned 8.56% from year-to-date. The stock is included in Nairametrics Stock Select Newsletter as a stock pick.  Check here.

Related

Tags: Lafarge Plc

Leave a Reply Cancel reply

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

Mega Millions
Hot forex
Cornerstone
Polaris Bank
Access Bank
Bankers Committee
First bank


FCMB
Ikeja Electrics




    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • PremiumTrust Bank has opened a new branch in Effurun, Delta State
    • Look no Further Than GreenWaveX
    • FUGAZ investors gain N25 billion combined during the week

    Follow us on social media:

    Recent News

    PremiumTrust Bank has opened a new branch in Effurun, Delta State

    PremiumTrust Bank has opened a new branch in Effurun, Delta State

    July 2, 2022
    Look no Further Than GreenWaveX

    Look no Further Than GreenWaveX

    July 2, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com