Shareholders warn Lafarge Africa to Strengthen Marketing Strategy …As Firm Records N30 billion Loss

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Shareholders warn Lafarge Africa to Strengthen Marketing Strategy... As Firm Records N30 billion Loss

Shareholders and Stakeholders have expressed worries over Lafarge Africa Plc’s N30 billion loss recorded in its half year result.

The National Coordinator, Progressive Shareholders Association of Nigeria, Boniface Okezie said that Lafarge Africa Plc needed to strengthen its marketing strategy and ensure that the products are visible within the country.

” Lafarge Africa Plc needed to boost its marketing department and make sure the product is all over the nook and crannies of the country” Okezie said.

In his own reaction, the President of Renaissance Shareholders Association, Timothy Olufemi said  that ”it is the implication of being a foreign exchange dependent company. Too bad for us as shareholders. The economy is said to be in recession. Definitely, 2016 year end results will be terrible for capital market. Stock prices will crash heavily”

It was gathered that Lafarge Africa Plc recorded a loss of N30.184 billion as at June 30, 2016, according to figures given by the company to the Nigerian Stock Exchange.

In the same period, the company’s income dropped to N107.364 billion from N152.178 billion earned the same period in 2015.

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