{"id":27419,"date":"2018-10-17T15:13:54","date_gmt":"2018-10-17T14:13:54","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=27419"},"modified":"2018-10-17T15:13:54","modified_gmt":"2018-10-17T14:13:54","slug":"lafarge-africa-records-n234-billion-net-sales-for-nine-months-2018","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/lafarge-africa-records-n234-billion-net-sales-for-nine-months-2018\/","title":{"rendered":"Lafarge Africa Records N234 Billion Net Sales For Nine Months 2018"},"content":{"rendered":"

Lafarge Africa Plc recorded net sales of N234 billion for the nine-month period and N72 billion for the third quarter of 2018.<\/p>\n

This is an increase of 5% over 2017 both versus the quarter and the nine months period.<\/p>\n

The positive performance was mainly driven by strong volume growth in Nigeria and favourable pricing trends in South Africa. EBITDA for the third quarter increased significantly as a result of improved performance in South Africa while it was down for the nine months period due to South Africa\u2019s performance in first and second quarter.<\/p>\n

According to the CEO of Lafarge Africa Plc, Mr. Michel Puchercos: \u201cWe continued to deliver strong margins in our Nigerian business as a result of our successful commercial strategies with improved product visibility and the fast tracking of the new route to market.\u00a0\u00a0Our energy efficiency plan translated in increased use of Alternative Fuel and Coal. Our South African operations delivered first positive recurring EBITDA and are focused on executing its turnaround plan.\u2019\u2019<\/p>

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He further stated that the company has successfully commissioned a new grinding station in Ghana with a capacity of 600KT. Going forward, the company\u2019s outlook for the cement market in Nigeria remains favourable in fourth quarter. In South Africa, it expects the execution of its turnaround plan will continue to yield positive results. All product lines are expected to contribute to the performance.<\/p>\n

In September, the Board of Lafarge Africa PLC approved the refinancing of the shareholder loan to $293m with longer maturity and a Right Issue of up to N90bn. Speaking on the restructuring, Bruno Bayet, Chief Financial Officer of Lafarge Africa said, \u201cthe restructuring is aimed at reducing the Company\u2019s leverage position as well as strengthening its profitability.\u201d\u00a0\u00a0The Rights Issue and refinancing plan will be concluded in December once regulatory approval is received in October.<\/p>\n

Photo Caption:\u00a0CEO of Lafarge Africa Plc, Mr. Michel Puchercos<\/em><\/strong><\/b><\/p>\n","protected":false},"excerpt":{"rendered":"

Lafarge Africa Plc recorded net sales of N234 billion for the nine-month period and N72 billion for the third quarter of 2018. This is an increase of 5% over 2017 both versus the quarter and the nine months period. The positive performance was mainly driven by strong volume growth in Nigeria and favourable pricing trends …<\/p>\n","protected":false},"author":6,"featured_media":27421,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,1593,17],"tags":[1872],"coauthors":[2391],"class_list":["post-27419","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-metro","category-news","tag-lafarge-africa"],"yoast_head":"\nLafarge Africa Records N234 Billion Net Sales For Nine Months 2018 - National Wire<\/title>\n<meta name=\"description\" content=\"Lafarge Africa Plc recorded net sales of N234 billion for the nine-month period and N72 billion for the third quarter of 2018.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/lafarge-africa-records-n234-billion-net-sales-for-nine-months-2018\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lafarge Africa Records N234 Billion Net Sales For Nine Months 2018 - 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