Nigeria’s Lafarge Cement WAPCO profit up in Q1 2014

Lafarge Cement WAPCO Nigeria, local unit of French building materials maker Lafarge, posted a net profit of NGN 8.10 bllion (€36.8 million) in the first quarter of 2014, a 34% increase from the year-ago period, on a revenue growth of 16% to NGN 27 billion and a 15% climb in operating income to NGN 9.39 billion. Sales costs rose 17% to NGN 15.5 billion while administrative and distribution expenses were up 22% to NGN 2.3 billion. Managing director and CEO Joe Hudson said the positive results were a produc
May 14, 2014 Read time: 1 min

725 Lafarge Cement WAPCO Nigeria, local unit of French building materials maker Lafarge, posted a net profit of NGN 8.10 bllion (€36.8 million) in the first quarter of 2014, a 34% increase from the year-ago period, on a revenue growth of 16% to NGN 27 billion and a 15% climb in operating income to NGN 9.39 billion. Sales costs rose 17% to NGN 15.5 billion while administrative and distribution expenses were up 22% to NGN 2.3 billion.

Managing director and CEO Joe Hudson said the positive results were a product of strong demand and the company's strategies for raising volumes while reducing costs.

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