Lafarge Africa Plc, a leading building solutions company and manufacturer of cement brands, held its 66th Annual General Meeting (AGM) in Lagos, Nigeria.
The meeting reviewed the company’s exceptional 2024 financial results and set the stage for accelerated growth.
The company announced a remarkable revenue of ₦696.76 billion for the 2024 financial year, representing a 72% increase from ₦405.50 billion in 2023.
Operating profit grew by 89% to ₦193 billion, while profit after tax surged to ₦100 billion, a 96% increase over 2023.
Shareholders approved a final dividend of ₦1.20kobo per share, reinforcing the company’s commitment to delivering value to its stakeholders.
The company acknowledged the recent agreement by Holcim Group to sell its 83.81% stake in Lafarge Africa to Huaxin Cement Ltd., marking a pivotal step toward future expansion and innovation.
Chairman Gbenga Oyebode attributed the company’s success to the shared vision and trust of its shareholders.
He emphasized Lafarge Africa’s commitment to excellence, sustainable growth, and shaping Nigeria’s infrastructure for future generations.
Group Managing Director/CEO Lolu Alade-Akinyemi highlighted the company’s dedication to innovation, sustainability, and operational excellence.
He noted that the company’s remarkable performance despite economic challenges demonstrates its strategic focus and commitment to delivering superior value to stakeholders.
Eric Akinduro, Chairman of the Ibadan Zone Shareholders’ Association, commended the company’s leadership for their commitment, discipline, and professionalism.
He expressed confidence that Lafarge Africa’s financial performance will continue to improve year after year.
Lafarge Africa prioritizes sustainable practices, including reducing carbon emissions and accelerating green growth.
The company has adopted calcined clay in cement production, developed eco-friendly products, and expanded its green logistics framework.
Comment here