KEY POINTS
- In the second quarter of 2018, Lafarge Africa’s sales were 70 percent higher than in the same quarter the year before.
- Profit After Tax went up 248 percent to N84.03 billion.
- The CEO sees a bright future for the second half of 2025.
Lafarge Africa Plc had a great second quarter, with sales revenue rising 70 percent year-on-year to N268.63 billion. This was due to stronger demand and improvements in efficiency.
Last Monday, the cement firm filed its unaudited financials with the Nigerian Exchange Limited. They show that the company had one of its best quarters yet, thanks to stable currency conditions and better cost management.
Profit after tax rose 248 percent to N84.03 billion, while operating profit rose 153 percent to N120.61 billion from N47.70 billion in the second quarter of 2024. The company said that the increase in profits was due to increases in sales, better operations, and the fact that there were no major foreign exchange losses.
Lafarge Africa’s profits from operations go up when efficiency is up
The company noted that higher sales, better distribution networks, and careful cost control were the main reasons for the improvement in operating profit.
In the second quarter, profit after tax jumped 248 percent
Lafarge made N84.03 billion in profit after taxes, thanks to a stable naira and better cash flow management.
Lafarge Africa wants a better outlook for the second half of the year
Lolu Alade-Akinyemi, the company’s CEO, claimed that the results showed that the company had new products, followed through on its plans, and also positioned itself well in the market. He also said that the company thinks the second half will keep up the same rate of growth.
Alade-Akinyemi also said, “We had great financial results in the second quarter, with a 70 percent increase in net sales, a 153 percent increase in operating profit, and a 248 percent increase in profit after tax.” Our unique products and smart operational strategies are what make this performance possible.
In conclusion Lafarge thinks that the cement market will be strong in the future, with growth in line with what happened in the first half of the year.
