Lafarge Africa Plc has reported a profit after tax of N29 billion for the nine months ended September 31, 2015, compared with N31 billion recorded in the corresponding of 2014.
The company said Ashaka Cement’s numbers were affected by the unrest during the start of the year, explaining that Ashaka has since returned to normal operations.
It added that industrial performance was strong, with stable plant operations across the board. The South African business continues to be cash generative and the Ashaka plant is now fully operational.
However, the volume slow down impacted the profit, with after tax (PAT) profit from consolidated operations declining by 67 per cent to N3.5 billion in the quarter.
Commenting on the results, the CEO, Lafarge Africa Plc, Mr. Peter Hoddinott mentioned that “in spite of the challenging business environment and competitive situation, our Company has delivered a good performance during the year. Our business expansion is remarkable and we are optimistic that our company will continue to deliver strong value to our shareholders.”According to him, Lafarge Africa Plc will continue to leverage its strong brands, technological advantage and support from the global Group. The expansion plans are on track, with the aggregate business ramping up, new ReadyMix plants being erected, the Unicem second line set to come on stream in 2016.
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