In accordance with Section 3.4(b) of the Lusaka Securities Exchange Listings Requirements, the Board of Directors of Lafarge Zambia PLC (“the Company” or “Lafarge”) hereby advises the Shareholders of the Company that the Earnings Per Share (“EPS”) for the year ended 31st December 2019 is -K0.06 compared to K0.37 for the financial year ended 31 December 2018 (normalized EPS). The 2019 Earnings Per Share is approximately 117% lower than that of 2018.
The movement in EPS is primarily attributed to a reduction in margins in 2019 over 2018 attributed to reduction in revenue amidst increase in costs of production on the back of unstable power supply, market contraction, devaluation of the kwacha, energy cost increases and impairment of some assets.
The Company expects its audited results for the year ended 31st December 2019 to be released on SENS and published in the local press on or about 11th March 2020. Accordingly, Shareholders are advised to exercise caution when dealing in the Company’s securities until publication of the results.
By Order of the Board
Chibuye M. Ngulube