HBM posts 31% revenue, 57% profit growth in H1

HBM Nigeria Plc, formerly known as Lafarge Africa Plc, reported a significant growth in revenue and profit for the first half of 2026. The company's Profit After Tax rose to N208bn, reflecting a 57 per cent increase from the previous period. This growth was underpinned by a 31 per cent rise in net sales, propelled by an 11 per cent surge in volume, coupled with enhanced operational efficiency and improved distribution methods.

Operating profit also experienced a substantial uptick, growing by 51 per cent to N291bn, marking a remarkable 43 per cent improvement in operating margin, up from 37 per cent in the same period last year. Group Managing Director and CEO, Lolu Alade-Akinyemi, commended the company's performance, attributing it to disciplined cost management, operational excellence, and prudent financial oversight.

He further hinted at plans to bolster supply reliability, drive innovation, and advance sustainability initiatives. HBM Nigeria is also set to commence the engineering design for its third production line in Calabar, a project aiming to establish a 3-million-tonne integrated cement facility within 12 months. Despite global uncertainties, analysts remain optimistic about Nigeria's cement demand, driven by ongoing infrastructure development and sustained urbanization.

HBM Nigeria plans to capitalize on this demand, focusing on volume growth while maintaining cost discipline and operational efficiency to bolster profitability and maintain competitive margins.