Lafarge Africa considering US$248m Share sale in Nigeria

Business News

Lafarge Africa Plc is considering raising up to US$248m in a share sale. The sale will take place in the fourth quarter of 2018 said chief financial officer Bruno Bayet whilst reporting the company’s half-year results, according to Bloomberg. Its sales rose by 5% year-on-year to US$448m in the first half of 2018 from US$427m in the same period in 2017. However, its earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 25% to US$76.4m from US$102m. The subsidiary of Switzerland’s LafargeHolcim blamed its falling earnings on poor performance in South Africa

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