Lafarge Africa sees net sales improve 27% YoY

Lafarge Africa Plc has reported a 27.3 per cent rise in net sales in FY22 to NGN373.2bn (US$812.9m), compared to NGN293.1bn in FY21. Recurring EBIT over the same timeframe advanced by 29.3 per cent to NGN84.2bn with the recurring EBIT margin moving from 22 per cent in FY21 to 23 per cent a year later. Earnings per share over the same period improved by 5.2 per cent from NGN3.17 to NGN3.33. 

Khaled El Dokani, CEO of Lafarge Africa, commented, “In 2022, we recorded 27.3 per cent and 29.3 per cent improvement in net sales and recurring EBIT respectively, compared to FY2021 results. The worsening exchange rate situation led to revaluation losses, thereby constraining our net income growth to 5.2 per cent. We remain committed to our sustainability ambitions by utilising affordable clean energy in our operations and optimising our green logistics strategy; among other initiatives that are in alignment with our net zero pledge journey.”