The financial results for Lafarge Africa Plc for the year ending December 31, 2024, revealed a profit after tax of N100.1bn, a substantial 96% increase from the previous year’s N51.1bn. Revenue also saw a notable surge, rising by 72% to N696.8bn in 2024 compared to N405.5bn in the prior year.
Higher sales volume and improved pricing strategies were key factors driving Lafarge Africa’s performance, as indicated in their audited financial statements. The company managed to increase its gross profit by 68% to N346.7bn and operating profit by 89% to N193bn, showcasing effective cost management and enhanced efficiency.
Despite an increase in expenses such as selling, distribution, and administrative costs, Lafarge Africa recorded a profit before tax of N152.3bn, a significant 93% rise from the previous year. The company’s bottom-line growth remained strong, closing the year with a profit after tax of N100.1bn.
Total assets for Lafarge Africa grew to N990.5bn in 2024, with non-current assets like property and equipment also increasing. Cash and cash equivalents improved to N237.9bn, reflecting solid liquidity. Liabilities rose to N485.9bn due to higher trade payables and contract liabilities driven by increased business activity.
Earnings per share rose to 622 kobo, indicating increased returns to shareholders. For the nine months ending September 30, 2024, the company reported a profit after tax of N57.3bn, a 46% increase from the corresponding period in 2023.