Companies
Updated: November 16, 2022

Lafarge Africa Records Over N30 Billion Loss In Market Value

By Felicia Abisola Olamiji
November 16, 2022
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Lafarge Africa Plc has recorded a 9.66% loss in market value as the company records a market capitalization drop to N323.766 billion from N358.398 billion.

The company’s shares have decreased from N22.25 per share at the start of trading on Tuesday, November 15, to N20.10 at the end of the trading session.

The company, hoowever, recorded revenue of N269.8 billion for the third quarter period ended September 2022, up from N219.2 billion recorded in 2021, which indictaes an increase of 23.08%.

A profit after tax of N44.899 billion for the review period from N40.394 billion during the comparable period in 2021, representing an 11.15% growth.

The cost of sales for the period stood at N135.08 billion from N117.09 billion in 2021, representing a growth of 15.36%. The cost of sales consumed 50.06% of the total revenue.