Cement Firm Records N97.95bn Profit In First Quarter

Lafarge Africa Plc has reported a profit-after-tax of N97.95 billion for the first quarter of the 2026 financial year.

The figure represents a 101 per cent increase from the N48.64 billion recorded in the corresponding period of 2025.

According to the company’s unaudited financial results, net sales rose to N334.88 billion in Q1 2026. This marks a 35 per cent increase compared to the N248.35 billion reported in the same period last year.

The operating profit also saw strong growth during the review period, climbing to N141 billion. This reflects a 97 per cent year-on-year increase, underscoring significant improvements in the firm’s core operations.

The company attributed the performance largely to “improved sales volumes and cost management measures.” The results indicate strong growth in both revenue and profitability for the quarter.

Analysis of the figures suggests that increased demand within Nigeria’s construction and infrastructure sectors contributed significantly to the revenue growth recorded. The uptick points to sustained activity in building and civil works across the country.

Lafarge Africa also reported improved operational efficiency in Q1 2026. This was supported by “enhanced plant performance and distribution networks,” which helped streamline production and delivery.

Industry observers note that the performance comes amid “gradual easing of macroeconomic pressures and stabilisation in supply chains.” These factors have recently impacted manufacturing costs for firms in the sector.

A statement from head, Corporate Communications, Ginikanwa Frank-Durugbor, sighted yesterday by LEADERSHIP Friday stated that Huaxin Building Materials Ltd remains a technical partner to the firm, with ongoing collaboration “aimed at improving operational efficiency.”

Looking ahead, the company said it would continue to focus on “cost control, operational efficiency, and market expansion” in the coming quarters.

It added that “demand in the construction sector is expected to remain a key driver of growth,” supported by ongoing infrastructure development across Nigeria.