We have extracted below the Chairman’s Statement from the 2018 annual report of Lafarge Zambia Plc (LACZ.zm), listed on the Lusaka Securities Exchange:

Lafarge Zambia Plc 2018 Annual Report

I am pleased to report that 2018 was a year of further growth for Lafarge Zambia Plc, with improvements in sales and profits despite the challenging operating environment.

This has also been another significant year of development for Lafarge Zambia, with additional business focusing on the environment thereby developing innovative and tailored industrial and municipal waste management services for a wide range of customers.

Circumstances in our industry remain extremely challenging, with continued competition and inflationary cost pressures, which have necessitated a detailed review of strategic options available to the Company. I believe that this stance will put us in a position to maintain our leadership in the manufacturing sector.

I would like to express my sincere gratitude to Vincent Bouckaert, who served as Chief Executive Officer from September 2016 u