Lafarge Africa Posts N697.76bn Net Sales In 2024

Lafarge Africa Plc has recorded a net sales of N697.758 billion, driven by improved volumes for the year ended December 31, 2024.

The Company proposed a final dividend of N19.33 billion, representing N1.20 per share to shareholders.

The Company audited results on the Nigerian Exchange Limited showed that net sales grew by 72 per cent from N405.503 billion achieved in 2023 to N697.758 billion, benefiting from improved volume. Operating Profit rose by 89 per cent to N193.005 billion from N102.023 billion.

Also, the Company’s profit after tax soared 95.8 per cent year-on-year to N100.1 billion, surpassing the N100.0 billion milestone. Consequently, earnings per share settled at N6.22 from N3.17 in 2023.

Speaking on the performance, CEO of Lafarge Africa, Lolu Alade-Akinyemi said, “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.”

He said that “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 Plc remains committed to strengthening its leadership position in offering environmentally friendly building solutions, while driving long-term profitability.”

On outlook, Alade-Akinyemi noted, “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 maximise 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.”