Lafarge Africa Plc has kicked off 2025 on a strong note, posting a massive 837 per cent rise in profit after tax to N48.64bn for the first quarter, up from N5.19bn recorded in the same period last year.
The company announced the impressive results in its financial report filed with the Nigerian Exchange Limited on Thursday.
Revenue for Q1 2025 surged by 80 per cent to N248.35bn, compared to N137.77bn in Q1 2024, driven by strong market demand and higher sales across its core operations.
Gross profit climbed by 87 per cent, reaching N122.98bn, while operating profit jumped by 137 per cent from N30.24bn last year to N71.66bn this year.
Lafarge Africa also expanded its operations, leading to an increase in selling and distribution costs to N38.94bn, up from N27.25bn. Administrative expenses rose to N12.93bn from N8.28bn in the same period of 2024.
The company reported a positive reversal on receivables of N54.66m, higher than N17.52m recorded last year. Finance income grew slightly to N1.84bn, compared to N1.56bn in Q1 2024.
Meanwhile, finance costs dropped significantly, standing at N388m, compared to a much higher N23.09bn in Q1 2024.
Despite rising investments and operational costs, Lafarge Africa closed the quarter with a strong cash balance of N105.77bn, though down from N237.86bn at the end of 2024. Total assets also dipped slightly to N914.79bn from N990.51bn recorded last year.
The company’s non-current assets, including property, plant, and equipment, grew to N412.77bn, reflecting continuous investments in infrastructure to drive future growth.
The reported that Lafarge Africa posted a full-year 2024 profit after tax of N100.1bn, almost doubling the N51.1bn it recorded in 2023.
