Invest Data Consulting Ltd

• AshakaCem Holds Court-Ordered Meeting For Lafarge Merger Monday Building materials making giant, Lafarge African Plc, on Friday, reported that it got out of the woods in the third quarter of 2017, while continuously being hampered by the soaring cost of sales and administration, added to the finance costs, hence the need to quickly seek for fresh capital via rights issues for which an application has been made to the Securities & Exchange Commission (SEC) for approval. According to the result, the group earned N223.66bn from sales revenue, representing a growth of N62.617bn or 38.88% from N161.043bn in the nine-month of 2016, boosted by N177.07bn from sale of cement, up from N125.164bn; followed by income from aggregate and concrete, which fetched N42.632bn, up from N33.035bn. This was just as the company’s major business occurred in Nigeria from where N155.61bn or 69.57% was generated, while the remaining N66.057bn came from its South African operations. Cost of sal...

A few weeks ago, cement manufacturer giant, Lafarge Africa Plc presented an un-audited score card, which revealed yet another inconsistence in performance, a situation that has so far reflected on its share price over the years, especially against the backdrop of Nigeria’s economic situation, which in line with the decision of its major competition led to the merger of its sister companies in Nigeria, as well as the South African operation of its parent company. All of these have kept investors thinking: What is next. It must however be noted that the company, in all of these, the company has remained consistent in releasing the timely release of its earnings reports, in line with the post-listing requirements of the Nigerian Stock Exchange (NSE), while keeping to its high level of good corporate governance. The management of Lafarge Africa in the half year financial performance statistics under consideration swam above waters as it announced positive figures as against ...