• Friday, June 14, 2024
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BusinessDay

Lafarge doubles dividend pay-out to N2 per share

Lafarge Africa gets shareholders approval to pay dividend

Lafarge Africa Plc has released its results for the year ended December 31, 2021. Its profit after tax stood at N51billion as the results show Net Sales went up 27.1percent versus preceding year.

Also, recurring EBIT went up 42.6percent versus preceding year and Net Income was up 65.4percent.

While it doubled dividend pay-out to N2 per share, Lafarge also eported robust free cash flow after lease of N43.4billion and strengthened Balance Sheet with net cash position of N26.8billion amid focus on Health and Safety and on accelerating its sustainability initiatives.

Read also: Nestle grows profit on 172.69% surge in Finance cost

Khaled El Dokani, CEO of Lafarge Africa, commented: “Our 2021 performance showed significant improvement, with net sales of +27.1percent, recurring EBIT of +42.6percent and net income of +65.4percent, compared to FY 2020 results. We are equally pleased with the progress we are making on sustainability; our use of affordable clean energy and agro-ecology footprint are in accordance with our net-zero pledge journey”.

2022 outlook

“Good demand momentum expected in 2022; we will continue to maximize volume opportunities across our markets and actively manage our costs; we will consolidate our efforts on Sustainability,” the company said.