Published By: PM NEWS Live
6th May, 2013
Lafarge WAPCO, the cement producer has recorded a 50 per cent rise in its first quarter profit for this year.
According to a report sent to the Nigeria Stock Exchange today, Lafarge increased turnover by about N700million, to N23.3 billion. It was N22.6 billion at the same time last year.
The company’s biggest performance was in its PAT, which jumped 50 per cent to N6.07 billion, from N4.07billion last year.
The company was able to achieve the result from reducing interest charges from N1.5billion to N982 million. Estimated taxes also fell from N1.9 billion to N1.128 billion.
Analysts said if the company kept up the trend, shareholders may be in for a bumper harvest this year.
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