By Destiny Day
The full year 2017 Loss Before Taxation (LBT) of Lafarge Africa Plc widened by 49.1 per cent to N34.03billion; from N22.8billion loss the cement maker reported in 2016.
Lafarge Africa’s full year results were made public at the Nigerian Stock Exchange on Monday.
For the financial year ended December 31, 2017 revenue grew to N299.153 billion from N219.71billion in 2016.
However, from a profit after tax (PAT) of N16.89 billion in 2016, the group reported a loss after tax (LAT) of N34.60 billion in 2017, a development believed to be disappointing to investors.
Consequently, the stocks of the company were on offer at Lagos Bourse as shown in Monday’s loss of N3.2 or -7.24 per cent to N41.
Lafarge Africa Plc, is a leading Sub-Saharan Africa building materials company and a subsidiary of LafargeHolcim, a world leader in building materials.
It was listed on the Nigerian Stock Exchange with a presence in Africa’s two largest economies, Nigeria and South Africa.
Lafarge Africa is actively participating in the urbanization and economic growth of Africa.
Board of Directors of Lafarge proposes a gross dividend of N1.50kobo (2016: N1.05kobo) on every ordinary share in issue which amounts to N13.010billion (2016: N5.75billion).
