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Friday, September 18, 2020 / 11:02 AM /
Ottoabasi Abasiekong for WebTV / Header Image Credit: Twitter; @nsenigeria
Lafarge Africa Plc expects a positive
long-term corporate outlook for the cement and construction market in Nigeria,
despite the impact of the COVID-19 pandemic on the sectors H1, 2020 performance.
The MD/CEO of Lafarge Africa Plc, Mr.
Khaled El Dokani, said this at the virtual "Facts Behind the Figures" session
on the Nigeria Stock Exchange (NSE).
He said the implementation of the Lafarge
Africa "Health, Cash and Cost Initiative" will continue to deliver improvement
in the company's performance.
The Lafarge Africa CEO said the company remained
focused on emerging the leader of innovative building and solution construction
in Nigeria, amidst the highly competitive environment.
In terms of strategy, El Dokani noted that the company
was playing big in the area of sustainability, leveraging the circular economy,
climate and energy, environment, people and community.
He said "Our route-to-market strategy has proven to
be effective, particularly our expanded distribution network which proved very
valuable during the peak of the COVID-19 pandemic lockdown. We have steadily
expanded our retail footprint in our core markets. The recent re-launch of our
Supaset brand has continued to gain traction with our customers, especially
with the block makers".
In the area of the Q2, 2020 financials El Dokani
highlighted the following;
-67.2% decline in net financial costs
-59.3% decline in net debt
-5.1% decline in Q2,2020 Revenue due to COVID 19
pandemic
- N23.3bn PAT ,47% increase
- N28.7bn PBT , 86.1%
increase
Speaking on the H1, 2020 the CEO attributed the robust
performance to the Nigerian operations, with the retail segment dominating over
90% of its activities.
Looking at its current financial position, he said
Lafarge Africa was not in a hurry to access the market for capital raising as
it was in a stable condition at the moment.
"We will continue to maintain a healthy balance
sheet while prioritizing the health of our people, communities and other
stakeholders," he said.
Giving the remarks on behalf of the CEO of the Nigeria
Stock Exchange, Mr. Oscar Onyema, the Divisional Head, Listing Business Mr.
Olumide Bolumole commended Lafarge for its drive towards improved corporate
governance and value creation for investors in the market.
On his part, the doyen of the dealing members in the
Nigeria Stock Exchange, Alhaji Yusuf Rasheed, said the Nigerian investing
public has supported Lafarge over the years, and the company has reciprocated
the gesture by paying dividends.
He urged the management led by Mr. Khaled El-Dokani
not to rest on their oars, but rework their strategy to retain the top position
in the highly competitive cement market. The doyen called on Lafarge to
maintain a close working relationship with the investment community.
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