Financial

Lafarge Africa posts yearly results for 2015

14 December, 2020

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The company recorded lower profits in 2015

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Lafarge Africa recorded a 20 percent decline in profits to NGN 29.3 billion in 2015 as compared to NGN 40.4 billion in the same period a year earlier, reports This Day Live.

The profits declined due to the one-off restructuring costs and the unrealized exchange impact on the foreign currency borrowings from the parent group.

The company's revenue increased by 2.5 percent to NGN 267.2 billion in 2015 as compared to NGN 260.8 billion in the same period a year earlier.

The company has a positive outlook for 2016 due to given the strategies already in place.

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