WorldStage Newsonline– Lafarge Africa has released its result for the year ended December 31, 2024 with 96% increase in profit after tax to N100.145 billion from N51.141 billion in 2023.
However, profit for fourth quarter was far better at 262% growth to N42.848 billion from N11.836 billion in Q4 2023.
Highlights of the results include; Net Sales: FY 2024 up 72% YoY benefiting from improved volume; Q4 2024 up 86% vs PY; Operating Profit: FY 2024 up 89% YoY; Q4 2024 up 103% vs PY; Operating Margin: FY 2024 28%, up from 25% PY; Q4 2024 31%, up from 28% PY.
Lolu Alade-Akinyemi, CEO of Lafarge Africa, commented, “I am excited to report our record-breaking revenue of 697bN and PAT of 100bN 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 Plc 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 recognised that 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,” it said.
“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.”
