Lafarge Africa Plc has declared a net sales of N293.09 billion for the financial year ended Dec. 31, 2021.
This was against N230.57 billion posted in the comparative period of 2020, representing an increase of 27.1 per cent.
The company made the disclosure in its financial report signed by its Executive Secretary, Mrs Adewunmi Alode, on Tuesday in Lagos.
According to the report, the company’s recurring Earning Before Interest and Tax (EBIT) went up by 42.57 per cent to N65.11billion from N45. 67 billion achieved in the compa0period of 2020.
Also, the company’s net income increased by 65.4 per cent to N51.004 billion from N30.84 billion in 2020.
The report also showed robust free cash flow after lease of N43.4 billion and a strengthened balance sheet with net cash position of N 26.8 billion.
Mr Khaled El Dokani, Chief Executive Officer, Lafarge Africa Plc, said the company’s 2021 performance showed significant improvements.
El Dokani said that the company would focus on health and safety and consolidate its sustainability initiatives.
He projected that good demand momentum was expected in 2022.
“Our 2021 performance showed significant improvement, with net sales of 27.1 per cent, recurring EBIT of 42.6 per cent and net income of 65.4 per cent, compared to FY 2020 results.
“We are equally pleased with the progress we are making on sustainability; our use of affordable clean energy and agro-ecology footprint are in accordance with our net zero pledge journey.
“We will continue to maximise volume opportunities across our markets and actively manage our costs.
“We will consolidate our efforts on sustainability,” he said.