Lafarge Africa Plc (WAPCO) has released its Q3 2024 unaudited financials, posting a remarkable 703% year-on-year surge in standalone earnings per share (EPS) to NGN1.91.

The company’s revenue grew by 101.2% year-on-year, driven by growth in cement (+104%) and aggregates (+41.9%) segments. The strong revenue performance was attributed to increased output, improved plant stability, and effective cost management initiatives.

Gross margin declined to 52.9% due to elevated cost of sales, but EBITDA and EBIT margins expanded to 32.1% and 27.8%, respectively, driven by revenue growth.

Net finance costs fell sharply by 69.1% year-on-year, largely due to reduced FX losses.

Profit before tax (PBT) grew by 716.5% year-on-year to NGN47.69 billion, while profit after tax (PAT) surged by 703% year-on-year to NGN30.72 billion.

Analysts expect Lafarge Africa’s positive earnings trajectory to continue, driven by sustained demand, new product lines, higher pricing, and reduced finance costs.