Category Archives: Industrial Goods
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Analyst: Abigail Alabi* a.alabi@vetiva.com Target price: ₦42.63 Rating: BUY Lafarge recently released its audited result, with PAT for the FY’23 period declining by 5% y/y, despite the strong Q4’23 performance. Tax pressures continue to weigh on bottom line In Q4’23, revenue improved by 13% y/y to ₦116 billion, on the back of higher cement prices,...
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Price hikes offset declining volumes In 2023, the cement industry experienced a decline in volumes attributed to cash shortages, election uncertainties, and prolonged heavy rainfall, which impeded construction activities… . Price cut triggers industry uncertainty In October, BUA Cement made a surprising announcement to reduce the ex-factory price of cement in Nigeria from ₦4,200 to...
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