Lafarge Africa Declares N30.8bn PAT in 2020 Audited Results, Proposed N1 Final Div; (SP:N22.50k)

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Wednesday, March 24, 2021 / 12:24 AM / By NSE / Header Image Credit: Edge Markets


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Lafarge Africa Plc released its 2020 Audited results for the period ended December 31st, 2020.


Key Highlights

  • Revenue grew by 8.3% to N231bn from N213bn in the previous quarter.

  • Profit before tax grew by 116% to N37.2bn.

  • Profit after tax declined by 73% to N30.8bn.

  • Net Assets grew by 4.3% from N345bn to N360bn.


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Lafarge Africa delivered strong results in FY 2020

- We continue to prioritise the health and safety of our employees and stakeholders

- Net sales up 8.3% vs PY1 with recurring EBIT up 30.8% vs PY1

- Robust free cash flow generation of N47.4bn

- Healthy balance sheet with net cash position of N3.6bn

 

Khaled El Dokani, CEO of Lafarge Africa stated: "Our "HEALTH, COST & CASH" action plan delivered results in 2020 amidst the COVID-19 pandemic, which triggered inflationary and Naira devaluation pressures and production challenges. Full year 2020 results remained resilient, with net sales of +8.3%, recurring EBIT of +30.8% and net income of +98.8%. We are proud of our people, who stand with our communities, and of our sustainability commitments to accelerate the net zero pledge through affordable clean energy and our agri-ecology footprint".


OUTLOOK 2021

  1. Focus on the implementation of our strategy.
  2. Execution of the “HEALTH, COST & CASH” action plan.


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