Nigeria: Lafarge Africa says it is preparing for reduced revenue in the second quarter of 2020 due to subdued activity in the construction sector caused by lockdown measures related to the coronavirus outbreak. Its revenue grew by 10% year-on-year to US$164m in the first quarter of 2020 from US$149m in the same period in 2019. Its profit after tax more than doubled to US$20.8m. First quarter sales were driven by growing cement sales that compensated for slowing aggregate and concrete sales. Managing director Khaled El Dokani said that despite, short-term disruptions due to the epidemic, the subsidiary of LafargeHolcim was confident of the resilience of its business.
Lafarge Africa prepares for lower activity in second quarter of 2020
URL: https://globalcement.com/news/item/10863-lafarge-africa-prepares-for-lower-activity-in-second-quarter-of-2020
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