Lafarge Africa post 43% drop in profits, share price down 5%


Lafarge Africa released its 2014 Full year results Friday morning showing revenue was flat year on year. The company reported a Group revenue of N205.8billion compared to N206billion same period in 2013.

Lafarge Africa also reported a profit after tax and discontinuing operations of N34.3billion representing a 43% drop from a year ago. Earnings per share for the group was N7.38 representing a 45% drop from the N13.43 reported a year earlier.

This will be Lafarge Africa’s first full year earnings since its merger of its African entities including Wapco Nigeria and Lafarge South Africa.

The company also reported a comprehensive loss of N123.1billion as it wrote off about N157.4billion against its reserves. The write-offs arose from the business combination of its operating entities. Lafarge Africa proposed N3.60 dividend for shareholders who hold shares on or before April 24th 2015.

Share price was down 5% as at close of trading.

Nairametrics

Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

What others say about : Lafarge Africa post 43% drop in profits, share price down 5%..


Julius

This is interesting. I hope it is not the merger that is bringing this performance this low.

What's your say?
%d bloggers like this: