Lafarge Africa Plc has reported a 101% surge in profit after tax to N97.95 billion for the first quarter ended March 31, 2026, driven by higher sales volumes, improved plant stability, and tighter cost management.
A press release made available to reporters by Ginikanwa Frank-Durugbor, the company’s head of corporate communications, on Wednesday disclosed that the cement manufacturer’s net sales climbed 35% year-on-year to N334.88 billion, up from N248.35 billion in Q1 2025.
Ginikanwa Frank-Durugbor said unaudited results released by its board of directors indicated that operating profit nearly doubled, rising 97% to N141 billion.
The press release noted that the Group Managing Director/CEO, Lolu Alade-Akinyemi, attributed the performance to volume-led revenue growth, sustained cost discipline, and prudent financial management.
He cited enhanced plant stability, supply assurance, and distribution efficiency as key factors behind the gains.
“Our Q1 2026 results reflect continued progress in executing our strategic priorities,” Alade-Akinyemi said. “These results underscore our continued focus on delivering sustainable value to our shareholders.”
The company, a member of China’s Huaxin Building Materials Ltd, said it would continue leveraging its partner’s industrial and technical expertise to unlock further efficiency gains.
Alade-Akinyemi added that easing macroeconomic pressures and reduced global supply chain disruptions supported consumer demand during the quarter.
Looking ahead, Lafarge Africa expects Nigeria’s infrastructure and construction sector to drive further market expansion.
“We remain focused on capturing volume growth opportunities across our operating markets while maintaining disciplined cost optimisation initiatives to safeguard margins amidst global tensions,” he said.
The CEO reiterated the firm’s commitment to a sustainability-led growth model, with emphasis on supply reliability, cost leadership, innovation, and health and safety standards.
He thanked customers and stakeholders for their support, pledging continued delivery of consistent performance and long-term value.
Lafarge Africa, established in 1959 and listed on the Nigerian Exchange, operates cement plants in Ogun, Gombe, and Cross River states with a 10.5 million metric tonne annual capacity. Its parent company, Huaxin, founded in 1907, ranks among the world’s 10 largest cement groups and is listed on the Shanghai and Hong Kong stock exchanges.
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