Lafarge Africa posts 30.8% EBIT growth for 2020

Lafarge Africa, a member of LafargeHolcim, at its 62nd Annual General Meeting (AGM), posted 30.8 per cent growth in recurring earnings before interest and taxes (EBIT).
Prince Adebode Adefioye, Chairman of the Board said in a statement on Friday in Lagos, after the virtual AGM on May 25.
Adefioye said that in spite of COVID-19 pandemic evident challenges from the previous fiscal year, Lafarge Africa recorded an 8.3 per cent increase in net sales driven primarily by strong volume growth.
According to him, shareholders unanimously agreed on the proposed final dividend of 100k per share as the company shows strong growth in recurring EBIT.
He said that the audited financial result for 2020 was an indication of the validity of the company’s execution of the “health, cost and cash” action plan; which has led to impressive results.
Adefioye also hinged the successes shown in the 2020 financial result on the resilience of the brand and ability to deploy strategic stakeholder engagements as well as a balanced shared value approach of achieving corporate performance……TO CONTINUE READING CLICK ON

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