Lafarge Africa Plc (WAPCO) has recorded a massive boost in its Net profit for the half year and second quarter period ended 30th June, 2019, as it posted a 330.86% rise in profit after tax, comparing the current N9 billion to N3.9 billion posted same period 2018.
The company’s revenue in the first half of 2019 stands at N160 billion, reflecting a decline in revenue by 1.23%, away from N126 billion reported for half year 2018.
A strong Earnings per share was also reported benefiting from improved net profit and reduction of net finance cost to arrive at 56kobo from a deficit 24kobo in the corresponding period of 2018, representing about 330% year on year growth with about 16billion share outstanding.
At a stock price of N13.10, the company’s price to earnings ratio stood 23.42x with about 4% earnings yield as at when computed.
Lafarge Africa Plc is a building materials company. The Company’s segments include Nigeria and South Africa. Its subsidiaries include Lafrage Ready Mix Nigeria Limited, AshkaCem Plc, Atlas Cement Company Limited, LSAH, The United Cement Company of Nigeria Ltd (UniCem) and Egyptian Cement Holdings (ECH). Lafrage Ready Mix Nigeria Limited is in the business of producing ready mix concrete for the construction industry. The Company, through its Lafrage Ready Mix Nigeria Limited operations with eight batching plants, is producing concrete and aggregates solutions from its various locations in Nigeria. LSAH is a holding company. AshakaCem Plc is a cement manufacturing company. UniCem is a cement manufacturer and supplier of cement. UniCem has a production capacity of 2.5 million tons. WAPCO Operations is the South-West operations of Lafarge Africa Plc. The product portfolio includes five products, such as Elephant Cement, Supaset Cement, Powermax, Etex and Sulfate Resistant Cement among others