Lafarge Africa Plc has recorded N52.2 billion operating profit in the third quarter result ended September 30 2004, up by 200% from N17.064 billion in the same period of 2023.

According to the result released on the Nigerian Exchange, NGX , Lafarge posted N47.697 billion profit before tax, in the months, 9M'24, indicating 717% growth against N5.841 billion in the 9 months, 9M'23. Profit after tax grew by 703% to N30.7 billion in the 9M'24 from N3.8 billion in same period 2023. The net sales increased by 101% to N183.9 billion from N91 billion in 9M'22.

Commenting on the result, Lolu Alade-Akinyemi, CEO of Lafarge Africa, said : " We achieved strong top-line growth of 101% and 66% in Q3 and 9M, respectively. PAT improved on the back of operational efficiency amidst heightened cost pressure. Our performance was driven by strong output due to improved plant stability, enhancement in our supply chain operations and our cost management initiatives."

Alade-Akinyemi added : " Our strategic initiatives contributed significantly to our results despite macroeconomic challenges. We remain committed to our innovation drive and green growth acceleration, in line with our sustainability ambitions, while also delivering value to our stakeholders.

On outlook, Alade-Akinyemi saoid : " The Nigerian Infrastructure and Construction Sector is expected to continue to grow despite inflationary pressure on purchasing power. As a result, we maintain our positive outlook, with market recovery expected in Q4 2024.

We will continue to maximize volume opportunities across our markets and actively manage our costs. We remain committed to our sustainability ambitions and strategy of 'Accelerating Green Growth' through innovative building solutions and delivery of stakeholder value."