Lafarge Africa, a blue chip in the Nigerian Stock Exchange and a major brand in the Nigerian cement market, recently released its full-year 2015 financial scorecard, which showed a 2.5% year-on-year (y-o-y) growth in revenue and a 20% decline in profit after tax, PAT, over the same period in 2014.
The company managed to grow its top-line amid the challenging market and economic headwinds it faced during the year, largely driven by the growth in its Readymix sales and its Nigerian South-West operations.
The 20% decline in bottom-line resulted from one-off costs undertaken during the year for restructuring the company.
