Category Archives: Industrial Goods
May
May
Mar
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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Dec
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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Still on track for long term growth In 2022, cement producers recorded weak volumes impacted by energy constraints, particularly with gas supply shortages prevalent in the first half of the year. However, this decline was masked by higher cement prices during the period. Volumes continued to contract further in the first quarter of 2023, impacted...
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