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Impairments push Lafarge Africa to 2017 loss, shares fall

9th April 2018

By: Reuters

  

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Lafarge Africa has taken a one-off impairment in Nigeria and South Africa totalling around 33-billion naira ($105-million), widening its loss before tax for 2017 from a year earlier and sending its shares tumbling.

Bruno Bayet, CFO, told Reuters the impairments accounted for bulk of the loss, without which the cement maker would have turned a profit.

Lafarge Africa shares listed on the Lagos bourse fell to a one-year low on the news.

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Edited by Reuters

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