Lafarge Africa Plc, yesterday presented its first-quarter result ended on March 31, 2022 with a growth of 95.42 per cent on its company performance with a N16.781 billion as against N8.587 billion in its corresponding period of 2021.
The group also recorded an appreciation of 92.18 per cent from N9.136 billion in March 2021 to n17.558 billion.
The revenue of the company also grew by 27.91 percent from N63.708 billion to N81.488 billion in 2022. The group on the other hand appreciated by 26.77 percent from N71.470 billion to N90.606 billion.
Commenting on the company’s first-quarter performance the CEO of Lafarge Africa Khaled El Dokani, said their Q1 2022 performance shows significant improvement over Q1 2021, with net sales of 26.8 percent, recurring EBIT of 50.4 percent and net income of 92.2 per cent.
“Coming after our very strong FY 2021 results, our Q1 2022 performance confirms the continued growth trajectory of our business. We are equally pleased with the progress we are making on sustainability; our use of affordable clean energy and agro-ecology footprint are in accordance with our net zero pledge journey”, he said.
On the outlook of the second quarter of 2022, he said they expect a good demand momentum to continue as they continue to maximize volume opportunities across their markets and actively manage their costs.
However, he said the company will remain focused in their drive towards sustainability.
Lafarge Africa is a leading Sub-Saharan Africa building solutions company and a member of Holcim Limited, a world leader in building solutions accelerating the world’s transformation green.
Listed on the Nigerian Exchange Group, Lafarge Africa is actively participating in the urbanization and economic growth of Nigeria, the largest economy in Africa.
Lafarge Africa has the widest footprint in Nigeria with cement operations in the South West (Ewekoro and Sagamu in Ogun State), North East (Ashaka, in Gombe State), South East (Mfamosing, Cross Rivers State) with Ready-Mix operations in Lagos, Abuja and Port Harcourt. Lafarge Africa has a current installed cement production capacity of 10.5Mtpa.
Lafarge Africa leverages on its innovative expertise to provide value-added products and services solutions in the building and construction industry in Nigeria.
Shedding more light, the company said Holcim builds progress for people and the planet. As a global leader in innovative and sustainable building solutions, Holcim is enabling greener cities, smarter infrastructure and improving living standards around the world.
With sustainability at the core of its strategy Holcim is said to becoming a net zero company, with its people and communities at the heart of its success. The company is driving the circular economy as a world leader in recycling to build more with less. Holcim is the company behind some of the world’s most trusted brands in the building sector including ACC, Aggregate Industries, Ambuja Cement, Disensa, Firestone Building Products, Geocycle, Holcim and Lafarge.
Holcim has 70,000 people around the world who are passionate about building progress for people and the planet through four business segments such as Cement, Ready-Mix Concrete, Aggregates and Solutions & Products.
