Lafarge WAPCO reports 74% YoY net profit rise, Nigeria

Lafarge WAPCO’s net profit rose 74 per cent YoY to NGN8.51bn (US$397m) in the 12 months to December from NGN4.88bn a year earlier.

The company said in a statement to the Nigerian Stock Exchange that sales advanced 43 per cent to NGN62.5bn. Lafarge WAPCO will pay a dividend of 75 kobo/share on 23 May, it said.

The company took NGN45bn in loans to expand its plant in Ewekoro, western Nigerial which began production last September.