Lafarge Africa grows profit by 96% to N100.15bn in 2024
Lafarge Africa Plc has declared N100.15 billion profit in financial year ended December 31, 2024, about 96 per cent increase over N51.11 billion reported in 2023 financial year.
The cement maker on the Nigerian Exchange Limited (NGX) announced N152.52 billion profit before tax, representing an increase of 89 per cent from N80.7 billion declared in 2023 financial year.
From the profit & loss figures, the company announced net sales of N696.76 billion in 2024, a growth of 72 per cent from N405.5 billion in 2023.
The CEO of Lafarge Africa, Lolu Alade-Akinyemi, in a statement said “I am excited to report our record-breaking revenue of N697 billion and PAT of N100billion for full year 2024, a testament to our strong market positioning, operational efficiency, cost management and dedication to value creation.
“Despite a challenging business environment, we have remained resilient, leveraging innovation and green growth in line with our sustainability ambitions, while also delivering value to our stakeholders.
“Lafarge Africa 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 their commitment despite the macroeconomic headwinds being experienced in the industry.”
On outlook, the company said, “The Nigerian Infrastructure and Construction Sector is expected to continue to grow despite inflationary pressure on purchasing power.
“As a result, we maintain our positive outlook for 2025, with market recovery expected to continue at similar growth with 2024.
“We will continue to maximize volume opportunities across our markets and actively manage our costs.
“We remain committed to our sustainability ambitions and strategy of ‘Accelerating Green Growth’ through innovative building solutions and delivery of stakeholder value.”
