September 9, 2020/Cowry Asset Report

Lafarge Africa Plc recorded strong operating performance in H1 2020 as its Profit After Tax (PAT) rose by 158.96% to N23.33 billion due to significant declines in finance costs and administrative expenses.

Lafarge Africa’s impressive performance was despite the COVID-19 pandemic which nearly shut-down economic activity, especially in the cement sector, amid Federal Government’s imposed lockdown on some states such as Lagos, Ogun, Abuja and Kano where daily consumption of cement is relatively high; and, the dwindling revenue from its cementitious products such as aggregate and ready-mix concrete.

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