Lafarge Africa grows revenue to N120bn in H1 2020

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Lafarge Africa Plc has announced a 2.3 percent growth in net sales from N117 billion in the first half of 2019 to N120 billion in the first half of 2020.

The company’s revenue stood at N56.845 billion in the period under review, below the N59.869 billion reported in the same period of 2019. This was largely due to the recent decision by the company to let go of its subsidiaries and focus on profit-making business units.

However, net sales in the second quarter of 2020 dropped by 5.1 percent to stand at N56.8 billion from N59.8 billion in Q2 2019. Lafarge Africa Plc grew its profit after tax by 160 percent in the second quarter of the year to take its first half of the year profit to N23.329 billion.

According to the half-year results published by the company and released through the Nigerian Stock Exchange, the company said the total net income in the quarter under review was N15.2 billion up from N5.8 billion recorded in the corresponding quarter in 2019.

The results also showed that the company reduced its net financial debt which stood at N37.1 billion as of December 31, 2019, to N15 billion as of June 30, 2020.

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The cost of sales also increased marginally to N78.8 billion in half-year 2020 from N78.4 billion in half-year 2019, while the gross profit jumped to N41.7 billion from N39.5 billion during the same period.

Sales and marketing expenses were reported to have fallen to N1.6 billion from N1.7 billion, while the administrative costs reduced to N7.8 billion from N11.3 billion.

Commenting on the results, Khaled El Dokani, the chief executive officer of Lafarge Africa said:

“Q2 results remained resilient with net sales of -5.1% and recurring EBIT +29.7%, compared to the prior-year period, despite the impact of the COVID-19 pandemic. The implementation of our ‘health, cost and cash (HCC) initiatives’ have delivered a considerable improvement in our performance”.

The company said its medium to long-term outlook remains positive despite the impact of the COVID-19 pandemic on businesses.

It also said it would continue to focus on business resilience to maintain a healthy balance sheet while prioritising the health and wellbeing of its people, communities and other stakeholders.

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Lafarge Africa grows revenue to N120bn in H1 2020 - Brand SpurLafarge Africa grows revenue to N120bn in H1 2020 - Brand Spur

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Hong Kong ICT Awards 2021 opens for enrolment

HONG KONG SAR - Media OutReach - 23 April 2021 - The Hong Kong ICT Awards (HKICTA) 2021 is open for enrolment today (April 23). Entries of locally developed information and communications technology (ICT) products and solutions are invited to compete for the Grand Awards in the eight award categories, and the top accolade of the competition - the Award of the Year. The deadline for enrolment is July 16, 2021.

Steered by the Office of the Government Chief Information Officer (OGCIO), the HKICTA 2021 is organised by eight local industry associations and professional bodies. The award categories and respective Leading Organisers are listed below:

Award Categories

Leading Organisers

Digital Entertainment Award

Hong Kong Digital Entertainment Association

FinTech Award

The Hong Kong Institute of Bankers

ICT Startup Award

Hong Kong Wireless Technology Industry Association

Smart Business Award

Hong Kong Computer Society

Smart Living Award

Hong Kong Information Technology Federation

Smart Mobility Award

GS1 Hong Kong

Smart People Award

The Hong Kong Council of Social Service

Student Innovation Award

Hong Kong New Emerging Technology Education Association

A Grand Award will be granted in each category. A Grand Judging Panel, to be led this year by the President of the Hong Kong University of Science and Technology, Professor Wei Shyy, will select the Award of the Year from the eight Grand Awardees.

Since its debut in 2006, the HKICTA has endeavoured to recognise and promote outstanding ICT inventions and applications, thereby encouraging the pursuit of innovation and excellence among Hong Kong's ICT professionals and enterprises to meet business and social needs, bring benefits to the community through adoption of innovation and technology, and foster Hong Kong's smart city development together.

Details of the HKICTA are available on the thematic website ( Enquiries can be made to the OGCIO at 2582 4318 or by emailing [email protected]

Lafarge Africa grows revenue to N120bn in H1 2020 - Brand Spur
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