Lafarge Africa profit doubles to N100bn ahead of Huaxin takeover
Lafarge Africa Plc, the third-biggest cement manufacturer in Nigeria, saw its earnings almost doubled to N100 billion last year, according to the latest audited financial statements on Thursday.
The company’s after-tax profit surge by 96 percent to N100.1 billion from N51 billion. Its net sales rose to N696.7 billion from N405.5 billion.
This comes amid the ongoing sale of Holcim’s 83 percent stake in Lafarge Africa to Huaxin Cement, which was announced in December.
“I am excited to report our record-breaking revenue of N697 billion and PAT of N100 billion for full year 2024, a testament to our strong market positioning, operational efficiency, cost management and dedication to value creation,” Lolu Alade-Akinyemi, CEO of Lafarge Africa, said in the company earnings statement.
He said despite a challenging business environment, the company has remained resilient, leveraging innovation and green growth in line with its sustainability ambitions, while also delivering value to its stakeholders.
“Lafarge remains committed to strengthening its leadership position in offering environmental friendly building solutions, while driving long-term profitability. I would like to thank our esteemed customers, employees and all other stakeholders of Lafarge Africa for heir commitment despite the macroeconomic headwinds being experienced in the industry.”
