Lafarge Africa 2015 profit drops 19.52%

Lafarge Africa’s profits after tax fell by nearly US$10 million in the first nine of months of 2015, compared to the same period of the previous year. The Nigeria-based company’s post-tax profits dipped to NGN 29 billion (US$ 145.6 million) from NGN 31 billion ($155.38 million) in Q1-Q3 2014. Lafarge Africa subsidiary United Cement brought the profit after tax to NGN 3.3 billion ($16.54 million). Another subsidiary, Ashaka Cement, was affected by the unrest at the beginning of 2015, and profit after tax fro

Dangote Cement plans to start operations in Sierra Leone, Cameroon and Zambia in 2014, says Chief Executive Officer Devakumar Edwin

Dangote has a production capacity of 20.3 million tonnes/year in Nigeria and intends to add 9 million tonnes/year to production in thatcountry by the end of 2014.

Edwin says that Dangote is reviewing its operations in Kenya in light of the discovery of limestone deposits in the country, and plans to increase the capacity of its proposed plant in Kenya from 1.5 million ton

For the year ended 31 December 2015, Ashaka Cement recorded a drop net profit to NGN 2.7 billion (€12.03 million/US$13.56 million) from NGN 4.5 billion in 2014. The year under review saw the company record a revenue of NGN 17.4 billion, down from NGN 21.1 billion in 2014. Company pre-tax profit stood at NGN 3.2 billion, down from NGN 5.2 billion in 2014.

Nigeria’s Lafarge Cement Wapco reports profit before tax of N17.74 billion (approximately US$109 million) for its half-year ended 30 June, a 29% increase from its N13.8 billion ($85 million) in the corresponding period of the previous year.

The company, which last month merged with South Africa’s Lafarge subsidiary, also enjoyed a 12% increase in revenue for the first six months of 2014. Revenue rose to N55.35 billion ($341 million) from N49.48 billion ($305 million) in the preceding year.

The company