By InvestAdvocate

Lagos (INVESTADVOCATE)-Cement producer, Lafarge Africa Plc has recorded a loss after tax of N2.0 billion in the first quarter (Q1) period ended March 31, 2018 compared to a profit after tax (PAT) of N5.16 billion recorded the same period of 2017.

The company posted a loss before tax (LBT) of N2..94 billion from a profit before tax (PBT) of N9.44 billion recorded a year ago.

Revenue of the cement producer dropped 0.8 percent to N80.64 billion in the Q1 of 2018 from N81.31 billion in the same period of 2017, Lafarge Africa said in a filing with the Nigerian Stock Exchange (NSE).

Shares of the company at the close of trading on the Nigerian bourse declined 1.91 percent to N43.60 from N45.95 traded the previous session, losing 0.85 kobo per share.