Latest news with #LafargeAfrica
Zawya
30-04-2025
- Business
- Zawya
Nigeria: Lafarge Africa reiterates commitment to sustainable growth
Lafarge Africa Plc, a leading innovative and sustainable building solutions company and manufacturer of a range of cement brands, has reiterated its commitment to sustainable growth. At the 66th Annual General Meeting (AGM) of the company in Lagos, the Chairman of Lafarge Africa Plc, Gbenga Oyebode MFR, stated that the success recorded in the 2024 financial year reflects the shared vision and trust of the company's shareholders. 'Today's AGM reflects the strength of our shared vision and the trust of our shareholders. Our remarkable performance amidst economic headwinds underscores our commitment to excellence and sustainable growth. We are well positioned to drive sustainable growth, empower communities, and shape Nigeria's infrastructure for generations to come,' he said. The AGM, attended by shareholders, board members, and stakeholders, reviewed the company's exceptional 2024 financial results and set the stage for accelerated growth. In the 2024 financial results released in February, Lafarge Africa announced a remarkable revenue of N696.76 billion for the 2024 financial year. The growth in revenue represents an increase of 72 per cent from N405.50 billion recorded in 2023. Operating profit grew by 89 per cent from N102 billion in 2023 to N193 billion in 2024, while profit after tax surged to N100 billion from N51 billion, representing an increase of 96 per cent over 2023. During the AGM, shareholders approved a final dividend of N1.20 kobo per share, reinforcing the company's commitment to delivering value. The recent agreement by Holcim Group to sell its 83.81 per cent stake in Lafarge Africa to Huaxin Cement Ltd was also acknowledged, marking a pivotal step towards future expansion and innovation. Also speaking at the AGM, the Group Managing Director/Chief Executive Officer of Lafarge Africa Plc, Lolu Alade-Akinyemi, stated, 'Our 66th AGM celebrates a year of remarkable achievements spurred by innovation and sustainability. Achieving 76 per cent revenue growth in the face of economic challenges attests to our dedication and strategic focus. We remain committed to innovation, sustainability, operational excellence, and delivering superior value to our stakeholders.' Mr Eric Akinduro, Chairman of the Ibadan Zone Shareholders' Association, ratifying the outcome of the AGM, remarked: 'This is indeed a remarkable time for the shareholders of Lafarge Africa Plc, owing to the commitment, discipline, dedication, and professionalism demonstrated by the leadership of the organisation. The profit declared demonstrates that Nigerians can achieve excellence when given an enabling environment. With the current trajectory, I am confident that the company's financial performance will continue to improve year after year.' Lafarge Africa continues to prioritise sustainable practices, with initiatives aimed at reducing carbon emissions and accelerating green growth. This is highlighted by the company's adoption of calcined clay in cement production, eco-friendly products, and the expansion of its green logistics framework. Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (
Zawya
25-04-2025
- Business
- Zawya
Nigeria: Equities market maintains bullish trend as NGX lists Legend Internet shares
The local stock market sustained its bullish trend as the All-Share Index (ASI) advanced by 0.75 per cent to close at 106,074.26 basis points, driven by buying interest in MTN Nigeria Communications and Lafarge Africa shares. Accordingly, the Month-to-Date and Year-to-Date returns settled at +0.4 per cent and +3.1 per cent, respectively. Market capitalisation mirrored this performance, rising by 0.77 per cent to ₦66.67 trillion—an increase of ₦508 billion in investor wealth—largely attributed to the listing of 2 billion units of Legend Internet on the Nigerian Exchange by market breadth, sentiment was positive, with 43 gainers compared to 14 losers. On the performance board, top gainers included Cadbury Nigeria, Eterna, Ikeja Hotels, Nestlé Nigeria, and Academy Press, each advancing by 10.0 per cent. Conversely, John Holt, Haldane McCall, Multiverse Mining and Exploration, Guinea Insurance, and Japaul Gold Ventures topped the losers' chart, with share prices falling by 10.0 per cent, 9.96 per cent, 9.83 per cent, 8.57 per cent, and 6.91 per cent, respectively. The session reflected broad-based investor optimism, with most sectors closing in positive territory. The Insurance, Consumer Goods, Oil & Gas, and Industrial Goods sectors recorded gains of 4.32 per cent, 2.25 per cent, 0.27 per cent, and 1.29 per cent, the Banking sector declined marginally by 0.20 per cent, while the Commodities sector ended the session flat. Despite the market's upward momentum, trading activity was relatively subdued. Total volume and value traded declined by 55.93 per cent and 43.28 per cent, respectively, while the number of deals rose by 8.16 per total, 328.26 million units valued at ₦10.37 billion were exchanged across 12,142 deals. Access Holdings led the chart as the most traded stock of the day in terms of both volume and value, with 48.5 million shares worth ₦1.16 billion traded.
