Engr. Adeyemi MOFIKOYA holds a B.Eng degree in Electrical Engineering…
So, I got discussing with my friend based in the kingdom of Saudi Arabia and in his words he called this series “Ilabe” (which means licking soup in Yoruba language) LOL.
This is the third in the series and we will be considering released financials of some organizations.
The company of focus is Lafarge Africa PLC’s third quarter results for the period ended 30th September 2020, which was released in October 2020.
Let’s see the snapshot third quarter result below:
|Statement of Comprehensive Income|
|Q3 2020 (N’b)||Q3 2019 (N’b)||Year-on-Year (%)|
|Cost of Sales||– 123.80||– 112.70||9.85|
|Operating expenses||– 15.80||– 15.50||1.94|
|Earnings before Interest & Tax||41.10||35.50||15.77|
|Finance cost/Income||– 6.80||– 15.40||– 55.84|
|Profit after Tax||28.20||20.50||37.56|
- Revenue grew by 10.3%
- Gross profit improved by 11.31%
- Finance cost reduced by 56%
- Profit before tax grew by a whopping 71%.
- Profit after tax improved by 38%
With the pandemic and series of lockdown which was for six months in Nigeria, one will think the building and construction industry will be badly hit but this result shows otherwise.
Kudos to Lafarge Africa PLC for this amazing performance proving opportunities still exist within this pandemic.
This pandemic also brought some soup (Opportunities), we just need to open our eyes to see!
Reference: Nigerian Stock exchange: www.nse.com.ng
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Engr. Adeyemi MOFIKOYA holds a B.Eng degree in Electrical Engineering and M.Sc (Control Engineering). He is a Cisco Certified Network Administrator (CCNA), Certified Automation Engineer (CAE), Post-Graduate Diploma in Industrial Automation (PGDIA), a member of the Nigerian Society of Engineers (MNSE), a Registered Engineer (COREN), and Fellow of the Institute of Corporate Administrators of Nigeria and also a Fellow of the Institute of Brand Management of Nigeria (FIBMN). He started his career with Lafarge Africa PLC where he gained wide experience in Manufacturing, Operations Management and Procurement. He also has few stints in the Oil & Gas industry as a Field Engineer. He later joined Vitafoam Nigeria PLC in 2010 as a Sales Engineer and was later transferred to Vitapur Nigeria Limited (a subsidiary) as one of her pioneer staff (Management Cadre) and then he rose to become the Head of Sales & Marketing in October 2011. Due to his excellent and outstanding performance, he was appointed as the General Manager of Vitapur Nigeria Limited in the Year 2016. He won the Prestigious Chairman’s merit award in the year 2015 as the best Management staff. With over 15years experience cutting across Manufacturing, Oil & Gas and Power generation organizations; he has built private companies in the Start-ups space not limited to Procurement, Construction, NGO, Engineering services and Agricultural products. He has attended various training both Local and International. He has also won various laurels. He is happily married and blessed with two lovely kids.