Revenue: Lafarge Africa Records N187 Billion

Lafarge Africa has released its unaudited financial report for the half year (H1) ended June 30, 2022, which reveals a 29 per cent increase in revenue growth as the company reports  N187 billion revenue, compared to N145 billion recorded in H1 2021.

However, the company attributed the growth to the increase in demand for cement, as it installed a cement production capacity of 10.5 million metric tonnes.

Also, the marginal increase in prices of cement this year has also had a positive impact positively on the revenue, thus the positive growth in gross profit and gross profit margin. 

The demand in the construction sector contributed to demand, consequently, the growth in revenue.

The company also recorded a 37 per cent increase in profit and 2.7 per cent increase in net profit while the cost of sales grew by 25%-on year and 30% successively (Q2 2022) to N90.52 billion from N72.54 billion reported in H1 2021; selling, marketing and distribution expenses grew by 46% in H1 2022, and much higher growth (76%) in Q2 of the H1 2022.