Lafarge declares 27% growth in revenue to N90.6bn in Q1 2022

By Philemon Adedeji.

Lafarge cement PLC has released it’s unaudited financial statement for the period ended 31 March 2022, reporting growth in revenue which impressively increased by 27 per cent to a N90.6 billion in three months of 2022 from N71.4 billion in three months of 2021.

From the released of Nigerian exchange limited (NGX) profit before tax recorded for the period appreciated to a huge 68 per cent from N12.77 in corresponding period of 2021 to N21.47 in the previous period of 2021.     However, profit after tax recorded impressively increased to a 92 per cent from N9.136 billion in three months of 2021 to N17.56 billion in three months of 2022.

The group recorded operating profit for the period which rose significantly by 50 per cent to a N22.12 billion in three months of 2023 to N14.703 billion in three months 2021,while gross profit gained to a 35 per cent from N31.198 h billion in 2022.

Earnings per share recorded during the period moved stronger by 91 per cent to 1o9 kobo in three months of 2o22 from 57 kobo in three months of 2021.         In the unaudited financial statement declared by the group, total assets recorded for the period appreciated by 2 per cent to N535.6 billion in 2022 from N526.8 billion in 2021 unaudited result and account for the period March 31, 2021.

As total equity gained 5 per cent from N378.56 billion in corresponding period of 2021 to N396.118 h billion in the previous period of 2o22.        Total current assets recorded for the period declined by 10 per cent from N136.6 billion in 2021to N121.9 billion in 2022. As total non-curren assets grew by 6 per cent from N390.2 in 202l to N413.6 billion in 2022.                   In addition, total liabilities depreciated by 5 per cent to N139.5 billion in three months of 2022 from N148.3 billion in three months of 2021.