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News Nigerian analysts blame earnings loss at Lafarge Africa on merger

Nigerian analysts blame earnings loss at Lafarge Africa on merger

Written by Global Cement staff 17 September 2018
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Nigeria: Financial analysts Cordros Securities have blamed falling earnings at Lafarge Africa on the merger of its Nigerian businesses with Lafarge South Africa. In a research report the analysts found that the merger increased operating costs and reduced shareholder value, according to the Vanguard newspaper. Lafarge WAPCO’s earnings per share, earnings before interest, taxation, depreciation and amortisation (EBITDA) and profit before tax have all fallen since 2013. It also found that operating costs had increased ‘significantly’ following the merger, debt had risen and that earnings had also been hit by efficiency issues.

Lafarge announced plants to merge its businesses in Nigeria and South Africa in 2014. The move saw the consolidation of Lafarge South Africa, United Cement Company of Nigeria, Ashakacem and Atlas Cement to Lafarge WAPCO. It was subsequently renamed Lafarge Africa.

Last modified on 19 September 2018
Published in Global Cement News
Tagged under
  • Nigeria
  • Lafarge Africa
  • Lafarge South Africa
  • South Africa
  • Cordros Securities
  • Lafarge WAPCO
  • United Cement Company
  • Atlas Cement
  • Merger
  • Lafarge
  • LafargeHolcim
  • GCW371

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