WAPCO | Lafarge Africa Q1 2021 Earnings Update: Improving macro conditions coupled with additional capacity to buoy earnings

In Q1 2021, Lafarge Africa reported a 12.2% y/y increase in Revenue to N71.5bn, driven by Cement Sales (up 12.3% y/y to N69.9bn) and Aggregates & Concrete (up 7.9% y/y to N1.6bn). Supported by controlled Opex (-16.3% y/y) and steep decline in Finance Cost (-18.2% y/y), Profit Before Tax rose to N12.8bn in Q1 2021, up 36.1% y/y from N9.4bn in Q1 2020. Thus, Net Income grew by 13.3% y/y to N9.1bn in Q1 2021 from N8.1bn in Q1 2020. EPS rose to N0.57/s in Q1 2021 (Q1 2020; N0.50/s).

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