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Lafarge Africa declares N3.60 dividend for shareholders

By BusinessNews Staff on March 17, 2015

Lafarge Africa Plc, one of the leading cement and building solutions providers, last Friday recommended a dividend of N3.60 per share for the year ended December 31, 2014. The dividend is six per cent higher than the N3.30 paid the previous year.

Details of the audited results showed that Lafarge Africa Plc ended the year with gross revenue of N205.8 billion, compared with N206.1 billion recorded in 2013.
Gross profit rose marginally from N67.3 billion to N68.5 billion.

However, profit before tax (PBT)and profit after tax (PAT) declined by 36 per cent from N64.3 billion to N41.2 billion and 43 per cent from to N61 billion to N34.4 billion respectively.

THISDAY analysis of the results showed that the dip in PAT and PBT were largely due to 12 per cent rise operating expenses and N2.4 billion loss from UNICEM.

Despite the reduced bottom line, the company has proposed a dividend of N3.60 per share which is about nine per cent above what was paid in 2013.
Also, the company generated cash of N49 billion from the operations.

In his statement, the Chairman of Lafarge Africa, Chief Olusegun Osunkeye said: “It is with pleasure that we publish the first audited results of our newly transformed company. The good performance even in a volatile market affirms the strength of our new Company and our commitment to achieving excellence”.

Also commenting on the performance, the Group Managing Director/CEO, Lafarge Africa Plc, Mr. Guillaume Roux said: “our company has shown impressive performance. Our business combination plans have been well executed within set timelines. We are committed to improving operational performance by leveraging on opportunities this presents to us to deliver sustainable returns to our shareholders. “Lafarge Africa Plc has shown remarkable performance in the year and
According to the company, it remains highly committed to driving business excellence.

“We expect cement demand to increase both in Nigeria and South Africa in 2015. In Nigeria, the demand growth should be supported by increasing needs for housing and infrastructures, but could be lower than normal growth levels given the exchange rate development. This should be partly cushioned through the South African cash flow. We remain very optimistic and highly committed to delivering innovative building materials while leveraging on the operational strength and pedigree of the Lafarge Group,” the company declared.

[ThisDay]

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