Cement News tagged under: Lafarge WAPCO

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Lafarge Cement Wapco pretax profit and revenue rise

27 August 2014, Published under Cement News

Lafarge Cement Wapco reported a double-digit rise in pretax profit and revenue for the first half of 2014 as demand remained strong despite the rainy season slowing building activity. The company, which last month merged with Lafarge’s South African subsidiary, reported a pretax profit of 29 per cent rise in first-half to NGN17.74bn (US$85m). Revenue rose by 12 per cent to NGN55.35bn (US$341m) from NGN49.48bn in the corresponding period of last year. The company said it achieved growth ...

Lafarge expansion to upset Dangote Cement plans?

11 July 2014, Published under Cement News

Lafarge Wapco’s shareholders have approved the merger between the Nigerian unit of French cement maker Lafarge, Lafarge Wapco, and its wholly-owned South African subsidiary. The consolidation of the South African unit with Nigeria’s Lafarge Wapco, Lafarge says, will help accelerate its growth on the African continent and expand its product offering in South Africa and across the region. The merger, analysts say, is a clear signal of Lafarge’s intent to compete for a larger share of Africa’...

Nigeria: Lafarge to invest US$307m into Ashaka Cement expansion

08 July 2014, Published under Cement News

Ashaka Cement (Lafarge Group) has secured a NGN50bn (US$307m) credit facility, in addition to internally-generated cash flows to expand its cement production base. Umaru Kwairanga, chairman of the Board of AshakaCem plc, disclosed that Lafarge Group was committed to the capacity expansion project in Ashaka and would deploy its global expertise in procurement and erection of new cement plant. “Given the extent of preparatory work that has been done, the project is a reality and will s...

Lafarge to merge South Africa and Nigerian units

04 June 2014, Published under Cement News

Lafarge has announced it is to consolidate its African operations by combining its businesses in Nigeria and South Africa. Lafarge will transfer its shares in its Nigerian and South African operations into Lafarge WAPCO Nigeria Plc, which will then be renamed Lafarge Africa Plc. The combined entity will have a cement capacity of about 12Mt, as well as operations in aggregates, ready-mix and fly ash. Chairman of Lafarge WAPCO, Chief Olusegun Osunkeye, OFR, OON said the transaction will: "...

Lafarge Wapco first-quarter pretax profit up 20%

29 April 2014, Published under Cement News

Lafarge Wapco said on Monday its first-quarter pretax profit rose to NGN8.62bn (US$54m), up 20 per cent from NGN7.20bn in the same period of last year. Turnover at the Nigerian unit of France’s Lafarge, rose to NGN27.03bn during the three months to March, against NGN23.23bn a year earlier, it said in a filing with Nigerian Stock Exchange.

Lafarge WAPCO pretax profit jumps

21 March 2014, Published under Cement News

Lafarge's WAPCO announced on Thursday that its 2013 full-year pretax profit rose 30.3 per cent to NGN27.7bn (US$168.3m). The Nigerian unit of the French cement major also said revenue jumped to NGN98.79bn from NGN87.76bn the previous year.

Lafarge WAPCO reports 26% rise in pretax profit

30 October 2013, Published under Cement News

Lafarge WAPCO Cement Nigeria has recorded an increase in pretax profits of 26 per cent for the nine months to the end of September. The company reported pretax profits of NGN20.66bn (US$130m) and revenues of NGN74.27bn, up from NGN69.84bn compared to the same period of 2012. Third quarter sales rose six per cent to NGN24.8bn and pretax profit was up 65 per cent YoY at NGN6.9bn thanks to improved gross margin at 39.9 per cent. In 3Q12 the company undertook maintenance activities for aroun...

Lafarge WAPCO's debt reduction plans

17 May 2013, Published under Cement News

Lafarge WAPCO plans to pay off a NGN6bn (US$40m) in local debt this year, according to reports by Reuters.   The company owes about NGN28.4bn (US$180.43m) in total loans, of which NGN6bn is from Nigerian banks, Fred Amobi, its chief financial officer told analysts at a conference call. He said Lafarge WAPCO had a three-year bond worth NGN11.6bn and a loan from a Nigerian development bank of NGN10.8bn  in addition to the bank loans.   Lafarge WAPCO, reported  recorded a 50 per cent rise in it...

Lafarge Wapco pretax profit rises over 20%, Nigeria

08 May 2013, Published under Cement News

Lafarge Wapco's first-quarter pretax profit rose by 20.64 per cent YoY to NGN7.19bn (US$45.5m), compared to NGN5.96bn in the same period of last year. Revenues rose to NGN23.32bn compared to NGN22.61bn in the comparative period of 2012, it said in a filing with the Nigerian Stock Exchange. Lafarge Wapco operates three adjacent plants in Ewekoro in Ogun State, southwest Nigeria, with a capacity of 4.5Mta folliwng a capacity increase programme in 2011 and 2012. As well as its 60 per c...

Lafarge Nigeria pretax profits more than doubles

28 March 2013, Published under Cement News

Lafarge's Nigerian unit, WAPCO, said its full-year pretax profit more than doubled to NGN21.26bn (US$134.26m), compared with NGN10.34bn  a year ago. Turnover also rose to NGN87.96bn during the period, from NGN62.50bn a year ago, it said. Lafarge WAPCO, a listed company in which Lafarge has a 60 per cent share, operates three adjacent plants in Ewekoro in Ogun State in southwest Nigeria with 4.5Mta of capacity, following a capacity increase programme in 2011 and 2012.