Lafarge Africa Plc has reported a strong first-quarter performance for 2026, posting a 101% year-on-year increase in profit after tax to ₦97.95 billion, driven by higher sales volumes, improved plant efficiency, and disciplined cost management.
The cement manufacturer disclosed in its unaudited results released on Thursday in Lagos that net sales rose by 35% to ₦334.88 billion in Q1 2026, compared with ₦248.35 billion in the corresponding period of 2025.
Operating profit surged by 97% to ₦141.27 billion from ₦71.66 billion a year earlier, while operating margin improved significantly to 42%, up from 29% in Q1 2025.
Profit before tax also rose sharply by 104% to ₦149.12 billion, while earnings per share doubled to ₦6.08 from ₦3.02.
Chief Executive Officer Lolu Alade-Akinyemi said the performance reflected the company’s continued execution of strategic priorities.
He noted that revenue growth was supported by improved sales volumes, stronger plant stability, and better distribution efficiency, while profitability gains were driven by supply assurance, prudent cost management, and enhanced route-to-market strategies.
According to him, the company will continue leveraging the industrial and technical expertise of Huaxin Building Materials Ltd to improve operations and unlock further efficiency gains in 2026.
Lafarge Africa also provided updates on expansion projects at its Sagamu and Ashaka plants, with additional capacity projects in Ogun State and Gombe State progressing in phases and expected to be completed in the first quarter of 2027.
Looking ahead, the company said it expects continued growth in demand from Nigeria’s infrastructure and construction sectors, supported by improving macroeconomic conditions despite persistent global supply chain disruptions.
Lafarge Africa added that it remains focused on capturing volume growth opportunities, maintaining cost optimisation measures, and advancing sustainability initiatives to support long-term value creation.
