By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)-Cement manufacturers, Lafarge Africa Plc said last Thursday its pretax profit for the period ended March 31, 2015 dipped 32 percent to N8.81 billion from N12.88 billion recorded a year earlier.

Similarly, profit after tax (PAT) came down 22 percent to N8.56 billion from N11.01 billion reported the first quarter (Q1) 2014.

However, the cement maker posted revenue of N56.95 billion in the Q1 2015 compared to N49.37 billion; indicating a growth of 15 percent, Lafarge Africa said in a filing with the Nigerian Stock Exchange (NSE).

In September 2014, Lafarge Africa formerly known as Lafarge Cement Wapco Nigeria Plc combined its Nigerian operations (AshakaCem Plc, UNICEM, Atlas Cement Company Limited) and Lafarge South African Holdings Limited assets form a stronger platform for growth in Sub-Saharan Africa, with value creating opportunities.

The board of Lafarge Africa had granted approval for a mandatory tender offer to all qualifying shareholders of Ashaka Cement Plc in 2014.

At the closing of Thursday’s trading session on the Nigerian bourse before the workers holiday (May Day), share price of the company slipped marginally 0.01 percent as it opened N94.01 and closed N94.00 losing 0.01 kobo per share.