Lafarge Zambia (LUSE: LAFARGE) reported a 25% year-on-year increase in net profit to K424 million in financial year (FY) 2014. Earnings Per Share (EPS) was up to K2.12 (K1.69 in 2013):
$10m Twin Palm shopping mall open for business
The Twin Palm shopping mall opened its gates to customers last week. It cost $10m to develop over a period of two years by PMTP Zambia and will be managed by Knight Frank Zambia. The mall has 26 stores with a combined workforce of 500 and boasts Shoprite as its anchor tenant. The shopping mall is adequately positioned to cater to residents of Ibex Hill, Avondale, Salama Park and Chainda.
The Lusaka Stock Exchange (LuSE) has continued-on from a strong 2013 to close the first half of 2014 at 6,111.15, up 15.3%. The market capitalization was at K28.1bn (K62.3bn including Shoprite) as of yesterday, June 30th 2014:
Lafarge Zambia floats additional shares as it gets closer to LuSE 25% Free Float threshold
Lafarge floated more of its shares on the Lusaka Stock Exchange which reduced its parent company's holdings to 77.37% from 84% -- 2.37% away from LuSE's Free Float Compliance program which requires any firm listed on the LuSE to float at least 25% of shares to be available for day-to-day trading. Lafarge received bids in excess of 25m shares for an available 18m which shouldnt be surprising because the stock is up 65% year-to-date on the back of blockbuster earnings in 2013. Profit after-tax increased by 14.6% to K338m in 2013.
Trying to decipher this puzzle that is Zambia by using a variety of publicly available data (structured and unstructured) in conjunction with my own skill/experience. * * *