Equity market depreciates 0.77% on banks’ stocks slump
Central Bank of Nigeria (CBN) huge fines on four deposit money banks over alleged illegal fund repatriation on behalf of MTN Nigeria weighed heavily on the local bourse yesterday, causing the All-share index to slide by 0.77 per cent. The Nigerian Stock Exchange-All Share Index (NSE-ASI) decreased by 272.27 absolute points, representing a 0.77 per…
Lafarge Africa plans EGM, seeks shareholders’ nod to raise N90b fresh fund
The board of Lafarge Africa Plc, on Monday, wrote the Nigerian Stock Exchange (NSE), announcing plans for an Extra-Ordinary General Meeting (EGM), on September 25, 2018, in Lagos, to authorise the directors to raise up to N90billion in fresh capital by way of rights to existing shareholders. The company will also seek approval “to apply…
Profit taking drags stock market indices by N57b
Hopes for a bulls’ run dimmed yesterday, following renewed profit-taking by investors at the Nigerian Stock Exchange (NSE), as the bears took centre stage again on equity transactions, reversing the Tuesday's positive sentiment, as market capitalisation depreciated by N57billion.
Lafarge Africa to reduce leverage position with N90b fresh capital
Lafarge Africa Plc has announced plans to raise up to N90billion by way of rights to existing shareholders, subject to all corporate and regulatory approvals. According to the company, the restructuring is aimed at leveraging position, improve its industrial operations as well as strengthen its profitability. Besides, reforms implemented by the firm to improve operational…
Stock market investors lose N11billion on trading floor
Continued share price depreciation on the equity sector of the Nigerian Stock Exchange (NSE), yesterday pulled the market capitalisation further down by N110 billion.
Lafarge Africa rewards customers
Lafarge Africa has rewarded its customers and key distributors for excellent performance in the year so far.
Shareholders approve Lafarge Africa N13.01b dividend payout
For increasing value on investment through dividend payout, shareholders of Lafarge Africa Plc, has commended the board for its 2017 performance, as they approve a total N13.01billion dividend.
Lafarge Africa hopeful of return to profitability on key reforms
Following an improvement in its loss position amid performance concerns, the management of Lafarge Africa Plc has expressed optimism about the firm’s return to profitability as key reforms begin to reflect in its operations.
Lafarge Africa increases net sales for 2017, doubles recurring EBITDA
In full-year results for the year ended December 2017, Lafarge Africa Plc recorded net sales of N299 billion. This represents a 36% growth relative to the corresponding period in 2016. Recurring EBITDA doubled to N57,6 billion. The CEO of Lafarge Africa Plc Michel Puchercos attributed the strong margins in the Nigerian business to cost initiatives…
Ashaka Cement's N11b power plant ready in 2019
Nigeria's energy problem will receive a much-needed boost early 2019 when the 16-megawatts power station being constructed by AshakaCem is completed. AshakaCem is a subsidiary of Lafarge Africa and a member of the LafargeHolcin Group. The 11-billion naira project began in 2017 and is expected to be completed in January 2019, the managing director of…