Shareholders of Lafarge Cement WAPCO Nigeria Plc have applauded the company’s impressive performance, including returns on investment in the 2012 financial year.
With a gross dividend of 120 kobo on each ordinary share in issue as opposed to 75 kobo of 2011 financial year, shareholders who spoke to BusinessDay at the company’s shareholders forum last week in Lagos, unanimously agreed that the company has done very well, urging them to do more so that the dividend is sustained.
Boniface Okezie, National chairman, Progressive Shareholders Association of Nigeria said, “Lafarge WAPCO performance in the last financial year was impressive. You can see the difference in the balance sheet, with gross dividend growing from 75 kobo in 2011 to 120 kobo in 2012.” He however advised the company to keep at it, and not relent on increased dividend pay-out to shareholders.
The shareholders’ forum was meant to update investors on the company’s progress as well as share ideas for the future growth of the business.
The audited group financial statements for 2012 made available to BusinessDay show that profit before taxation for the year increased to N21.3 billion from N10.3 billion recorded for 2011; profit after taxation for the year rose to N14.7 billion from N8.5 billion in 2011. Turnover for the year also increased by 41 percent to N87.9 billion in 2012, from N62.2 billion in 2011.
Jean-Christophe Barbant, country chief executive officer, Lafarge Nigeria and Benin Republic in a keynote address said the company was possible to sustain a steady growth in its performance due to the effectiveness of the various initiatives deployed by management in the year and the commitment of the workforce.
In an interview with BusinessDay, Joe Hudson, chief executive officer and managing director, Lafarge WAPCO said, “A lot of our shareholders have commended us on an excellent performance, but we can achieve much more. I believe there are more potential in our company, and with this performance; comes higher expectations for the future. There are a lot more work and innovation we need to do and implement to be even more efficient; we will always strive more for the shareholders and create value for all of our stakeholders.”
He noted that the company has challenges with power, energy, infrastructure, including unease of transporting products compared to what obtains in other countries with complex network of infrastructure and transport system, stating however that the company was partnering with government at all levels, in overcoming these challenges.
ODINAKA MBONU
