Lafarge Africa Plc has achieved record sales of N697 billion for the 2024 financial year, with its Profit After Tax (PAT) rising by 96% year-on-year to N100 billion, driven by topline growth and increased market demand.
Lolu Alade-Akinyemi, Chief Executive Officer of Lafarge Africa, announced the milestone in the company’s financial report released on Thursday in Lagos. He attributed the impressive performance to operational efficiency, cost management, and a strong market position.
According to Alade-Akinyemi, net sales in 2024 increased by 72% year-on-year due to improved sales volume, with fourth-quarter sales surging by 86%. Comparatively, the company’s net sales in 2023 stood at N405.50 billion, with a PAT of N51.14 billion.
He reaffirmed Lafarge Africa’s commitment to expanding its product portfolio while prioritising sustainability, health, and safety.
“Despite a challenging business environment, we have remained resilient, leveraging innovation and green growth in line with our sustainability goals while delivering value to stakeholders,” he said.
Alade-Akinyemi also expressed confidence in Nigeria’s infrastructure and construction sector, noting that it is expected to grow despite inflationary pressures on purchasing power.
Looking ahead to 2025, he maintained a positive outlook, anticipating continued market recovery at a similar pace to 2024.
“We will continue to optimise volume opportunities across our markets and actively manage costs while driving long-term profitability,” he added.
Credit: NAN (Text Excluding Headline)
