Lafarge Africa Plc has announced its audited financial statements for the year ended December 31, 2024, reporting a profit after tax of N100.1 billion, representing a 96% increase from N51.1 billion in 2023.
Key Point: Lafarge Africa Plc's profit after tax surged by 96% to N100.1 billion in 2024, driven by higher sales volume, improved pricing strategies, and effective cost management, despite prevailing macroeconomic challenges.
The company's financial performance was marked by significant growth in key areas, including:
- Revenue: Up 72% to N696.8 billion
- Gross profit: Up 68% to N346.7 billion
- Operating profit: Up 89% to N193 billion
- Total assets: Up 45% to N990.5 billion
The company's strong financial performance was driven by its ability to manage production costs, boost efficiency, and implement effective pricing strategies. Despite an increase in expenses, including selling and distribution costs, administrative expenses, and finance costs, Lafarge Africa Plc's bottom-line growth remained strong.
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