Lafarge Africa Plc has proposed a final dividend of 120 kobo for the financial year ended December 31, 2024. The company recently released its result which shows it achieved record sales growth by 72percent to N697billion as against N405.503billion in 2023, while its Profit After Tax (PAT) grew by 96 percent to N100billion as against N51.141billion in 2023.
The proposed final dividend which is subject to shareholders’ approval and appropriate withholding tax deduction, will be paid to shareholders whose names are in the register of members as at the close of business on Friday, March 28.
The register of members will be closed from Monday March 31 to Friday April 4 (both dates inclusive). Payment date for the dividend is on April 25 while the dividend will be paid electronically to shareholders whose names appear in the register of members as at Friday March 28 and who have completed the e-dividend registration and mandated the registrar to pay their dividends directly into their bank accounts.
Speaking on the result, Lolu Alade-Akinyemi, CEO, Lafarge Africa said “I am excited to report our record-breaking revenue of N697billion and PAT of N100billion for full year 2024, a testament to our strong market positioning, operational efficiency, cost management and dedication to value creation”.
Operating profit of N193billion as against N102.023billion in 2023 grew by 89 percent. Its earnings per share (EPS) increased to N6.22kobo in 2024, from N3.17kobo in 2023, up by 96 percent.
“Despite a challenging business environment, we have remained resilient, leveraging innovation and green growth in line with our sustainability ambitions, while also delivering value to our stakeholders.
Lafarge Africa Plc remains committed to strengthening its leadership position in offering environmentally friendly building solutions, while driving long-term profitability.
“I would like to thank our esteemed customers, employees and all other stakeholders of Lafarge Africa for their commitment despite the macroeconomic headwinds being experienced in the industry,” he said.
Lafarge Africa unveiled Watershield Cement in first-quarter (Q1) of 2024; the product continues to make good strides in the market.
“This product has started to redefine industry standards, offering a solution previously unseen in construction materials. Lafarge Watershield Cement prevents water from permeating into buildings, thus ensuring the durability of the structure. This can be used for new structures and for remedial works where rust marks or seepage is evident on the building.
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“Lafarge Africa launched a new product in fourth-quarter (Q4) 2024, named Supa whyte plaster of Paris (POP) product which further extends our range of products in the industry. The product is set to improve versatility in design, allowing a wide range of decorative solutions.
“Lafarge Africa launched its first ECOPlanet cement in third-quarter (Q3) 2024 to strengthen our commitment to a greener planet. Our new ECOPlanet product is expected to significantly reduce our carbon footprint in the industry. Lafarge Africa introduced Calcined Clay in Q4 2024, a low carbon raw material, into its cement manufacturing process, which in turn further reduced our CO2 emission and carbon footprint,”the company said in a statement.
In their outlook, Lafarge said: “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 for 2025, with market recovery expected to continue at similar growth with 2024”.
“We will continue to maximise 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,” the cement company further noted.
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