Lafarge Africa Plc has announced profit after tax of N100.15 billion for the financial year ended December 31, 2024, about 96 per cent increase over N51.11 billion reported in 2023 financial year.
The cement manufacturing company listed on the Nigerian Exchange Limited (NGX) declared N152.52 billion profit before tax, representing an increase of 89 per cent from N80.7 billion declared in 2023 financial year.
Amid growth in profit, the management of Lafarge Africa has announced a final dividend of 120 kobo per unit (N19.3 billion) of 50 Kobo ordinary share when compared to N1.90 dividend payout in 2023 financial year.
The proposed dividend is subject to approval by the Shareholders at the Annual General Meeting coming up April 2025.
From the profit & loss figures, the company announced net sales of N696.76 billion in 2024, a growth of 72 per cent from N405.5 billion in 2023.
The CEO of Lafarge Africa, Lolu Alade-Akinyemi, in a statement said, “I am excited to report our record-breaking revenue of N697 billion and PAT of N100 billion 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 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 said, “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.”
