CORPORATE BRIEF: LAFARGE AFRICA PLC Q3 2017 Revenue and Net income came in at 38.9% and 102.5%

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Lafarge Africa Plc reported her unaudited Q3 ended September 30th 2017 results to the market on Friday, October 20, 2017. Revenue and net income came in at 38.9% and 102.5% respectively compared to Q3 ’16. 
Nigeria operations contributed 69.6% to the revenue while South Africa operations accounted for the remainder (30.4%).
The Company’s gearing is significantly high at 2.44x owing to a spike of 347.6% in short term borrowing. The borrowing came mostly from inter-party related loan which represents 80.8% of total current liabilities.
Key Highlights:
  • Lafarge Africa Plc Q3 ‘17 revenue and net income came in at 38.9% and 102.5% respectively compared to Q3 ’16.
  • Nigerian operations contributed 69.6% to the revenue while South Africa operations accounted for the remainder (30.4%).
  • The company’s gearing is significantly high at 2.44x owing to a spike of 347.6% in short term borrowing. The borrowing came mostly from inter-party related loan which represents 80.8% of total current liabilities.
  • The cost of servicing borrowed fund spiked by 134.1% and eat up 94.1% of operating income. This was a major strain to weak net income reported.
  • The Company is on the verge of raising capital through Rights Issue of N131.65bn. If fully subscribed, it could help to offset some of existing obligations.
Read Also:  Lafarge Africa Plc: Journey to profit in 2019 – more ground to cover!
Kindly click on this  link  to see full details on the Corporate Brief of the firm.
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