Lafarge Declares N3.90 Billion Loss in H1 2018

By InvestAdvocate

Lagos (INVESTADVOCATE)-Cement producer, Lafarge Cement Wapco Nigeria Plc has recorded a loss after tax of N3.90 billion in the half-year (H1) period ended June 30, 2018 compared to a profit after tax (PAT) of N19.73 billion recorded the same period of 2017.

The company posted a loss before tax (LBT) of N6.34 billion from a profit before tax (PBT) of N18.16 billion recorded a year ago.

Revenue of the cement producer increased 4.8 percent to N162.3 billion in the H1 of 2018 from N154.8 billion in the same period of 2017, the company said in a filing with the Nigerian Stock Exchange (NSE).

Shares of the Lafarge at the close of Tuesday’s trading on the Nigerian bourse declined 10.00 percent to N29.25 from N32.50 traded the previous session, losing N3.25 kobo per share.

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