Lafarge Africa Plc, has recorded a revenue of N57 billion in the first quarter of 2015, which is 15 per cent higher than first quarter, Q1 2014.

It also recorded a Profit After Tax, PAT of N8.6 billion and N14.6 billion of cash was generated from operations. The company’s and Group’s revenues increased by 25 per cent and 15 per cent in Q1 2015, when compared to last year. Wapco Operations had a strong quarter with 16% volume growth and a favorable mix and pricing, leading up to its overall 25 per cent growth.

The Ready-Mix revenue grew by 40 per cent and South Africa by 7 per cent. Ashaka was affected by the insecurity in the North and heightened election apprehensions in March, 2015, and saw a temporary revenue dip in Q1.

Meanwhile, the board of directors of Lafarge Africa granted approval for a Mandatory Tender Offer to all qualifying shareholders of Ashaka Cement Plc in 2014. Consequently, the Tender Offer is now concluded and regulatory approval has been obtained for the approval of the shares transferred. Lafarge Africa ownership stake in Ashaka Cement has increased to 82.46% from 58.61%. We expect final regulatory approval in the coming weeks.

In his statement, the Chairman, Board of Directors, Chief Olusegun Osunkeye , said “Our company has delivered a good performance in spite of the general elections and market uncertainty. We remain highly committed to delivering a strong result in 2015 in line with our ultimate objective of improving value to our shareholders”.

Commenting on the results, the Chief Executive Officer, Lafarge Africa Plc, Mr. Guillaume Roux mentioned that ‘’We have achieved stability in our operations, marked by our solid performance. The consolidation of our businesses and expansion projects presents an excellent foundation for future growth. Our management team is fully mobilized to deliver operational excellence whilst also leveraging on the strength of the Lafarge Group”.