Lafarge Africa’s Market Value Drops By N34.6bn

Lafarge Africa's Market Value Drops By N34.6bn

Lafarge Africa’s market capitalisation dropped by over N30 billion at the close of trading on Tuesday, November 15, 2022.

At the end of the trading session yesterday, Lafarge saw its market value dip to N323.766 billion from N358.398 billion on Monday, November 14. With this development, a loss of N34.631 billion in market capitalisation was recorded for the cement producer at the close of trading activities on the Nigerian Exchange Limited (NGX).

A look into Lafarge Africa’s financial performance

In the first nine months of the year (2022), Lafarge Africa recorded a revenue of N269.8 billion, up from N219.2 billion recorded in the corresponding period of 2021. This represents an increase of 23.08%. 

The cement firm, in a similar vein, recorded a profit after tax (PAT) of N44.899 billion for the period under review. Going by the figure, BizWatch Nigeria understands that it increased from N40.394 billion recorded during the corresponding period in 2021, which represents an 11.15% growth.

While the cost of sales consumed 50.06% of the company’s gross revenue, Lafarge cost of sales for the period stood at N135.08 billion from N117.09 billion in 2021, representing a growth of 15.36%. The cost of sales consumed 50.06% of the total revenue. 

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