Lafarge Africa profits down Q1-Q3 2015

725 Lafarge Africa’s profits after tax fell by nearly US$10 million in the first nine of months of 2015, compared to the same period of the previous year. The Nigeria-based company’s post-tax profits dipped to NGN 29 billion (US$ 145.6 million) from NGN 31 billion ($155.38 million) in Q1-Q3 2014. Lafarge Africa subsidiary United Cement brought the profit after tax to NGN 3.3 billion ($16.54 million). Another subsidiary, Ashaka Cement, was affected by the unrest at the beginning of 2015, and profit after tax from consolidated operations slumped 67% to NGN 3.5 billion ($17.54 million) in the quarter.