Skip to main content

Lafarge Cement projects profit

Published by , Editor
World Cement,


Lafarge Cement Zimbabwe Limited projects profitability in 2016 after recording a US$1.9 million loss in after tax profit for the year-ended 31 December 2015.

The company recorded a profit after tax of US$80 950 in 2014.

Lafarge commented that the economy experienced serious difficulties on a sustained basis because of a combination of factors such as the liquidity crunch, reduced consumer spending due to continued job losses and a poor agricultural season arising from a late and erratic rainfall season.

The group stated that sales volumes increased to US$61.55 million from US$60.45 million representing a 2% growth due to sales volumes.

Earnings Before Interest and Tax decreased by 230% to a loss of US$1.68 million during the period under review from a profit of US$1.29 million in 2014 driven to a large extent by these provisions.

Total assets decreased by 13% to $65 million in 2015 from US$69.9 million in 2014 due to the reduction in inventory from the obsolescence provisions.


Edited from sources by Joseph Green. Sources: All Africa, Daily News, News Day

Read the article online at: https://www.worldcement.com/africa-middle-east/22042016/lafarge-cement-projects-profit-960/

You might also like

The World Cement Podcast - CleanTech & Venture Capital

Our guest for this episode of the World Cement Podcast is Alfredo Carrato, Venture Capital Advisor for CEMEX Ventures. Listen in to the conversation as World Cement's Senior Editor, David Bizley, and Alfredo discuss the role of venture capital and cleantech in enabling the cement industry's green transition.

Tune in to the World Cement Podcast on your favourite podcast app today.

Apple Podcasts  Spotify Podcasts  YouTube

 
 

Embed article link: (copy the HTML code below):