Thursday, 20 July 2017

Lafarge Africa Recovers from Losses in Half Year 2017

Lafarge Africa in its H1 2017 financials had revenue grow by 44% to N155bn, cost of sales was up 20% hence gross profit jumped by 194% to N44bn. Gains from other operating activities led to an operating profit of N28bn, this together with a 39% decline in finance cost translated to a 160% rise in pre-tax profit to N18bn, while after-tax profit improved by 165% to N20bn.

The company's statement of financial position showed fixed asset rose by 4% to N404bn, while total assets grew by 21% to N607bn. Its financial liabilities rose by 98% to N207bn, while total liabilities grew 65% to N418bn. Net assets slipped by 24%, while working capital remained negative. See details of the result below.   


Income Statement H1 2017 H1 2016 % Change
Revenue (mn)             154,840         107,365 44%
Cost of Sales (mn)             110,390           92,225 20%
Gross Profit (mn)               44,450           15,140 194%
Operating expense (mn)               18,576           12,217 52%
Other Gains & Losses (mn)                  2,244         (28,544) 108%
Operating Profit/Loss (mn)               28,118         (25,621) 210%
Finance Cost (mn)                     604                 994 -39%
PBT (mn)               18,160         (30,184) 160%
Income Tax/Credit (mn)                  1,572                 (62) -2635%
PAT (mn)               19,732         (30,246) 165%
Balance Sheet H1 2017 FY 2016 % Change
Fixed Assets (mn)             404,382         390,489 4%
Total Assets (mn)             607,491         502,491 21%
Financial Liabilities (mn)             207,452         104,535 98%
Cash & Bank Balances               25,111           19,265 30%
Total Liabilities (mn)             417,573         253,538 65%
Net Assets (mn)             189,918         248,953 -23.7%
Working Capital (mn)           (176,693)         (77,643) 128%

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