Enterprise Television- Lafarge Africa Records N81bn Net Sales
Lafarge Africa Plc., a leading Sub-Saharan Africa building materials company has recorded net sales of N81 billion for the first quarter of the year 2018.
It is slightly lower than the corresponding period in 2017 by 1% due to volume in Nigeria and South Africa. EBITDA in Nigeria maintained margins at 29% and delivered strong operational performance.
The CEO of Lafarge Africa Plc., Mr. Michel Puchercos, said in Lagos yesterday that the Results were affected by timing of inventory movements and performance in South Africa.
Puchercos attributed the strong margins in the Nigerian business to the commercial and energy strategies that were implemented.
He also disclosed that Lafarge Africa Plc.’s commercial, logistic and industrial operations in Q1 2018 continually improve strongly despite inflation. Also the energy improvement plan continued to beat with increased use of Alternative Fuel and Coal while logistic and commercial initiatives helped to sustain market share during the quarter.
He said that the South African operations are more stable following a turnaround measures like price adjustment and cost reduction initiatives.
Mr. Bruno Bayet, Chief Financial Officer, Lafarge, during a conference also said that the company’s performance in the market remains strong and will continue to thrive.
Bayet also stated that the loss recorded in South Africa by the company was as result of the difficulty in the market. However, he expressed the confidence of the company turnover very soon.
He said that the changes made by Lafarge leadership in South Africa will positively impact on the company to be profitable.
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