Lafarge Africa Plc will leverage on the increase in its production capacity, opportunities from the expansionary government budget and large portfolio of building solutions to grow its market share and deliver better returns to shareholders.
The board of the cement group gave the assurance at AGM in Lagos as shareholders approved the distribution of N13.7 billion as cash dividends and 496.8 million shares, as bonus shares. The approval of the dividend was sequel to the approval of the audited report and accounts of the group for the year ended December 31, 2015.
Chairman, Lafarge Africa Plc, Mobolaji Balogun, said the group had used the immediate past business year, the first full year after the consolidation of its businesses in Nigeria and South Africa, to strengthen the platform to drive value creation for shareholders and other stakeholders.
He noted that the company sees growth opportunities in 2016 and beyond for the building material sector.
With the on-going 2.5 metric tonnes expansion project in Calabar-based United Cement Company (Unicem), which is expected to be commissioned before year end, and plans for Ashaka Cement, Lafarge Africa’s cement production capacity in Nigeria is on the increase and position the group strategically to take advantage of emerging opportunities.
Group MD, Lafarge Africa, Michel Puchercos noted that while the South African market may remain challenging in the year, the company plans to leverage on investments made last year within the cement operations with a revamped sales team and route to market, specifically in aggregates.
