Lafarge Africa jumps on 101% profit surge as NGX ASI rises 1.13%

The NGX ASI rose 1.134% to 1,655.25 on May 4, lifted by NASCON's 17.8% jump and strength in cocoa and consumer goods stocks, according to a May 4 analyst note. Lafarge Africa reached a market value of N5.6 trillion after profit surged 101%, MarketForces Africa reported. The company also proposed a N96.64 billion dividend payout to shareholders, according to westernpost.ng. In the broader earnings backdrop, BUA Cement and Presco ranked among Nigeria's top Q1 profitability names as of May 2, Business News Nigeria reported.