Cement Company Lafarge Africa Declares Big Profit in Q2, CEO Reacts
- Lafarge Africa Plc reported a 70% increase in sales revenue, reaching N268.63 billion for Q2 of 2025, compared to N157.80 billion in Q2 2024.
- The company’s operating profit grew by 153%, while Profit After Tax surged by 248%, driven by strong operational performance and stable foreign exchange conditions.
- CEO Lolu Alade-Akinyemi expressed confidence in the company's future, emphasizing innovation and cost management to navigate the evolving macroeconomic landscape
Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.
Lafarge Africa Plc, a provider of sustainable and innovative building solutions and a manufacturer of several cement brands, reported N268.63 billion in sales revenue for the second quarter of the fiscal year 2025.
Compared with the N157.80 billion earned during the same period in 2024, this revenue represents a 70% increase.
Source: Getty Images
According to a breakdown study of the unaudited results, the company's operating profit increased by 153% in the second quarter of the fiscal year, from N47.70 billion in the same period of 2024 to N120.61 billion. The company's operational efficiency and topline growth were major contributors to the increase in operating profit.
Profit After Tax for the second quarter increased by 248% from N24.16 billion in 2024 to N84.03 billion in 2025, according to NGX data. Strong operational performance and the naira's relative stability with no notable foreign exchange losses may be the causes of this increase.
In a statement, Lolu Alade-Akinyemi, the CEO of Lafarge Africa, explained that the company's remarkable Q2 performance was fueled by its creative product offerings, strategic operations, and effective distribution.
"Following our impressive Q1 results, Q2 performance showcases the strength of our team, market positioning, operational efficiency, cost management, and dedication to value creation. We achieved excellent financial results in Q2, with Net Sales growth of 70%, Operating Profit up 153%, and Profit After Tax growth of 248%. This strong performance closes H1 with a sales and operating profit growth of 75% and 144% respectively. This performance is driven by our innovative product offerings and strategic operational initiatives,” Alade-Akinyemi said.
He stated that the business is aware of the constantly changing macroeconomic landscape and is certain that it will continue to provide value by concentrating on its strategic priorities and utilizing innovation and green growth to meet its sustainability goals.
“I am deeply grateful to our exceptional team, valued customers, and loyal stakeholders for their unwavering contributions and support of Lafarge Africa. Despite the challenging macroeconomic environment, your commitment continues to inspire us and strengthen our confidence in the future," he added.
He revealed that the building industry is expected to maintain its growth trajectory, with the company benefiting despite the difficulties caused by macroeconomic activities on purchasing power.
Speaking about forecasts for the second half of the year, he expects the market to continue growing at a pace that is in line with the pattern from the first half of the year.
“We will continue to capitalise on volume opportunities across our markets while diligently managing our costs. Our commitment to sustainability remains steadfast, as we pursue our strategy of ‘Accelerating Green Growth’ through innovative building solutions that enhance stakeholder value,” he said.
Source: Getty Images
Dealers announce new price of Cement, other
Legit.ng reported that investigations has shown that the price of building materials in Nigeria skyrocketed by more than 100% over the past year.
For example, earlier in 2023, blocks were sold for N250 each; now, depending on the size, they range from N550 to N600 each.
Cement prices increased by over 100%, from N4,000 to N10,000 per bag.
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Source: Legit.ng
