Lafarge Africa Doubles Profit to ₦97.9bn in Strong Q1 Performance

Lafarge Africa Doubles Profit to ₦97.9bn in Strong Q1 Performance

By Auwal Ahmad Umar

Lafarge Africa Plc has reported a remarkable financial performance for the first quarter of 2026, posting a Profit After Tax (PAT) of ₦97.95 billion—more than double the ₦48.64 billion recorded in the same period of 2025.

The cement manufacturer’s unaudited financial results show that net sales climbed to ₦334.88 billion in Q1 2026, representing a 35 per cent increase from ₦248.35 billion achieved in the corresponding period last year.

The company attributed the strong growth to improved sales volumes, enhanced operational efficiency, and sustained cost-control measures across its business segments.

Speaking on the results, the Group Managing Director and Chief Executive Officer, Lolu Alade-Akinyemi, said the performance reflects the company’s disciplined execution of its strategic priorities.

“Our Q1 2026 results reflect continued progress in executing our strategic priorities. Net sales grew by 35 per cent year-on-year, supported by improved volumes, enhanced plant stability, and distribution efficiency,” he said.

He added that operating profit surged by 97 per cent to ₦141 billion, while profit after tax rose by 101 per cent, driven by supply assurance, prudent financial management, and a more efficient route-to-market strategy.

Alade-Akinyemi noted that the company is leveraging the expertise of its technical partner, Huaxin Building Materials Ltd, to further optimise operations and unlock additional efficiency gains.

According to him, Lafarge Africa will maintain strict cost discipline and focus on strategic capital deployment to sustain growth momentum, even as macroeconomic conditions gradually improve.

He explained that easing economic pressures and reduced global supply chain disruptions have supported stronger consumer demand, contributing to the company’s volume growth.

Looking ahead, the CEO expressed optimism about Nigeria’s infrastructure and construction sector, noting that expanding demand across key segments is expected to drive further growth.

“We anticipate continued market expansion from Nigeria’s infrastructure and construction sector demand, underpinned by improving economic fundamentals. We remain focused on capturing volume growth opportunities while maintaining cost optimisation to safeguard margins,” he said.

He also appreciated customers and stakeholders for their continued support, reaffirming the company’s commitment to delivering consistent performance and long-term shareholder value.

Lafarge Africa said it will continue to prioritise supply reliability, cost leadership, innovation, and sustainability initiatives, while maintaining high standards in health and safety across its operations.