“Ilabe” (which means licking soup in Yoruba language)

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 (%)
Gross Revenue              179.90                      163.10         10.30
Cost of Sales–             123.80–                     112.70           9.85
Gross Profit56.1050.40         11.31
Gross Margin31.18%30.90% 
Operating expenses–               15.80–                       15.50           1.94
Other income                  0.80                          0.60         33.33
Earnings before Interest & Tax                41.10                        35.50         15.77
Finance cost/Income–                 6.80–                       15.40–       55.84
PBT                34.30                        20.10         70.65
% Contribution                19.07%                         12.32%  
Tax (Expense)/Credit-6 
Profit after Tax                28.20                        20.50         37.56
16%13%
  • 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%

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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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