Lafarge Africa records N696.76b revenue growth for FY 2024

Lafarge Africa Plc has released its audited financial statement, recording a revenue of N696.76 billion for the 2024 financial year.

The growth in revenue represents an increase of 72 per cent from N405.50 billion that was recorded in the corresponding period in 2023.

A breakdown analysis of the audited result also revealed that operating profit for the company in the financial year ended 2024 grew from N102.02 billion in the corresponding period in 2023 to N193.01 billion, representing an 89 per cent significant rise.

According to the result released by NGX, the earning per share for the company for the 2024 financial year rose by 96 per cent, moving from 3.17 to 6.22.

A statement signed by the Chief Executive Officer, Lafarge Africa, Lolu Alade-Akinyemi, noted that despite inflationary pressure on purchasing power which has affected the business, the Nigerian Infrastructure and construction sector has witnessed tremendous growth.

Alade-Akinyemi described the company’s outstanding financial performance as a testament to its strong market positioning, strategic initiatives drive on Volume growth, decarbonising its environment though emission reduction and converting waste into energy.

“We also leveraged on innovation and operational efficiency to deliver strong products and solutions into the building market, drive cost improvement, creating a great environment for our people to thrive and delivering value to our stakeholders,” he said.

He explained that despite a challenging business environment, the company remained resilient,  leveraging innovation and green growth in line with its sustainability ambitions, while also delivering value to its stakeholders.

”Lafarge Africa Plc remains committed to strengthening its leadership position in offering environmental friendly building solutions, while driving long-term profitability.

“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,” he said.

He expressed appreciation to its esteemed customers, employees and all other stakeholders for their commitment, despite the macroeconomic headwinds being experienced in the industry.