Lafarge raises Net Profit despite COVID-19 impact

Lafarge, a leading Africa building materials company has declared improvement in Net Profit despite COVID-19 impact.

The Chief Executive Officer of Lafarge Africa, Khaled Dokani, in a statement said, despite the impact of COVID-19 in the 1st quarter of 2020, medium to long-term outlook for the company remained positive.

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He said, “Second quarter results remained resilient with net sales of -5.1 percent and recurring EBIT +29.27 percent compared to the prior year period despite the impact of the COVID-19 pandemic.

“The implementation of our Health, Cost and Cash (HCC) initiative has delivered considerable improvement in our performance,”Dokani noted.

The company’s boss also said with gradual easing of the lockdown by the Federal government, the company will continue to focus on the business resilience to maintain a healthy balance sheet while prioritising the health and wellbeing of the people, communities and other stakeholders.