Lafarge Africa Plc has reported improved results for the first quarter (Q1) ended March 31, 2020, raising shareholders' hope of good harvest at the end of the year.
Despite short-term disruptions, Lafarge Africa Plc is however confident in the underlying resilience of its businesses and operating model as the company has developed robust cost and cash optimization initiatives.
The Lafarge Africa's strong balance sheet and reduced cost base will also help minimise the negative effects of the COVID-19 pandemic," he said.
The Chairman of Lafarge Africa Plc, Mr. Mobolaji Balogun recently announced his voluntarily retire as chairman of the company and step down as member of the board of directors effective June 4, 2020.
Commenting, Balogun said: "Having overseen the progress in our transformation plan, the clean-up of our balance sheet, its return to robust profitability, streamlining of our operations, the renewal of our board and the smooth chief executive officer (CEO) and chief financial officer (CFO) succession plan, it is with a deep sense of gratitude to God, that I feel fulfilled, in retiring as chairman, knowing that the board and our company is in very good shape.
