Lafarge Cement Zimbabwe sees 24% rise in cement volumes

Lafarge Cement Zimbabwe registered a 23.7 per cent increase in cement volumes spurred by growing demand in the period ended May 2021, compared to the prior year.

Company secretary, Faithful Sithole, said there was a surge in demand for cement for home building in spite of the adverse impact of the COVID-19 pandemic. "In line with the 2021 strategic agenda, the business achieved volume growth leveraging on the growing market demand in the individual home builder segment as well as the ongoing major infrastructure development projects led by government," Ms Sithole said.

In the same period, dry mortar products volumes grew by 105 per cent compared to the same period last year. On the back of effective cost reduction initiatives implemented in 2021 and revenue growth, the company's EBITDA margins strengthened by two per cent compared to the same period in 2020.