Lafarge Africa Plc, Building Materials company in the Industrial Goods sector announced a 25.7% growth in strong net income to N19.18Billion in its Q2 2021 result from 15.26Billion (Q2 2020). Net Sales up 29.4% with recurring EBIT up 11.1%. Lafarge Africa also reported a strengthened balance sheet with net cash position of N 38.1bn.
The cement production manufacturing company performance improved for the period under review achieved significant growth in its topline and bottom-line figures. A turnover of N145.02 billion was reported, up by 20.30% from N120.54 billion reported the previous year.
Profit after tax grew by 21.40% to N28.32 billion from N23.33 billion reported the previous year. Earnings per share increased to N1.76 from the EPS of N1.45 in Q2 2020.
At the share price of N22.90, the P.E ratio of Lafarge Africa stands at 13.02x with an earnings yield of 7.68%
PERFORMANCE OVERVIEW – Group Quarter 2 2021
Khaled El Dokani, CEO of Lafarge Africa, commented:
“Our performance remained resilient in Q2 2021, with net sales of +29.4%, recurring EBIT of +11.1% and net income of +25.7%, compared to the previous year. We are equally pleased with the progress we are making on sustainability; our use of affordable clean energy and our agroecology footprint is in accordance with the acceleration of our net-zero pledge”.
H2 OUTLOOK 2021
- Good demand momentum is expected in H2 2021.
- We will continue to maximize volume opportunities across our markets and actively manage our costs.
- We will consolidate our efforts in Sustainability.