Lafarge Africa grows Q1 profit to N9.14bn

Lafarge Africa Plc has posted a profit after tax of N9.14 billion for the first quarter of 2021 from N8.07 billion in the same period of 2020.

The company’s profit before tax rose to N12.77 billion in Q1 2021 from N9.38 billion in the same period a year earlier.

Its revenue increased to N71.47 billion in the period under review from N63.69 billion in Q1 2020, according to its unaudited financial statements.

“Our Q1 2021 performance was resilient, with net sales of +12.2 percent, recurring EBIT of +24.2 percent and net income of +13.3 percent, compared to the previous year. The implementation of our ‘Health, Cost & Cash’ action plan continued to deliver results in Q1 2021,” the Chief Executive Officer of Lafarge Africa, Khaled El Dokani, said.