Lusaka Stock Exchange listed Lafarge Zambia is bullish the company will continue on a fine run throughout the rest of 2021 after showing resilience in the first six months of the year.
The company’s Chief Executive Jimmy Khan in a statement accompanying the financial results for the period ended June 2021 said he is optimistic business will improve notwithstanding challenges brought about by Covid 19.
“As we close H1 2021, I sincerely thank all members of the Lafarge Zambia family for the teamwork and resilience they continue to demonstrate in navigating through the social economic challenges created by the pandemic. I am confident that we will continue with the strong performance in H2 and close 2021 strong,” Khan said.
During the first six month of the year sales revenue at ZMW 961 million was up by 51% from ZMW 637, 3 million attained same period in 2020.
The company attained profit of ZMW 58, 7 million from a loss of ZMW12, 3 million.
Net assets were pegged at ZMW1, 5 billion.
Cash and cash equivalents at end of June ZMW 192, 4 million from ZMW 86 million same period last year.
The company secretary Chibuye Ngulube said the results of the business continue to be resilient in spite of the challenges of operating in the COVID-19 era.
“The results of the business continue to be resilient in spite of the challenges of operating in the COVID-19 era, high inflation at 25% from 19% at the close of December and depreciation of the Kwacha against the US Dollar,” Ngulube said.
He said the Company, through the Business Resilience Team, is taking all the necessary steps to safeguard the health of people and business.
“The Company has implemented weekly COVID 19 testing and a hybrid work from home model. We have continued to expand on the digital retail sales ordering application and the last mile delivery system that enables sales to any location without physical interaction,” Ngulube said.
Formally called Chilanga Cement it was acquired by the Lafarge Group in 2001 and subsequently changed to Lafarge Cement Zambia in 2007 after an issuance of Zambia’s largest ever bond issuance of ZMW 200-million.
Lafarge Zambia Plc is a member of Lafarge Holcim and Zambia’s preferred provider of building materials and construction solutions in Zambia and the Democratic Republic of Congo (DRC).
It has a production capacity of 1. 4 million tonnes cement per annum.
The company produces a wide brands of cement and concrete laboratory services. The cement brands include Mphamvu, flagship general-purpose cement; SupaSet, for the block maker and concrete product manufacturer segment Powerplus, used in the heavy construction projects and the recently launched Power Build, engineered for use in mass concrete application.
In its 2020 annual report the company said in 2021 and beyond focus will be on continuing to drive commercial innovations through the Company’s lead retail application and partnership with digital outlets such as AfriDelivery and Tigmoo as well as spearheading developmental sustainable and eco-friendly building solutions.