BY NKECHI NAECHE-ESEZOBOR—The Board of Directors of Lafarge Africa Plc has reported a strong financial performance­ for the first quarter of 2026, with Profit After Tax (PAT) rising to N97.95 billion—representing a 101 per cent increase from N48.64 billion recorded in the corresponding period of 2025.

The company also recorded significant growth in revenue, with net sales climbing by 35 per cent to N334.88 billion in Q1 2026, compared to N248.35 billion in the same period last year.

Commenting on the results, the Group Managing Director/Chief Executive Officer, Lolu Alade-Akinyemi, attributed the strong performance to sustained revenue growth, improved operational efficiency, and disciplined cost management.

“Our Q1 2026 results reflect continued progress in executing our strategic priorities. Net sales grew by 35 per cent year-on-year, supported by improved volumes, enhanced plant stability, and greater distribution efficiency. Operating profit rose by 97 per cent to N141 billion, while profit after tax increased by 101 per cent to N98 billion,” he said.

He added that the performance was driven by supply reliability, prudent financial management, and an improved route-to-market strategy.

Alade-Akinyemi noted that the company will continue to leverage the industrial and technical expertise of its strategic partner, Huaxin Building Materials Ltd, to further optimise operations and unlock additional efficiencies.

Looking ahead, he said the company would maintain a strong focus on disciplined capital deployment, cost control, and capturing growth opportunities across its markets. He added that improving macroeconomic conditions and easing global supply chain disruptions have supported rising consumer demand and volume growth.

“We anticipate continued expansion in Nigeria’s infrastructure and construction sectors, driven by improving economic fundamentals and demand across key segments. We remain focused on capturing these opportunities while maintaining cost optimisation to protect margins,” he stated.

He also expressed appreciation to customers and stakeholders for their continued support, reaffirming the company’s commitment to delivering consistent performance and long-term value.

“Our sustainability-led growth model remains central to our long-term value creation, supported by disciplined execution and operational excellence,” he added.

Lafarge Africa Plc said it will continue to prioritise supply reliability, cost leadership, innovation, and sustainability, while maintaining high standards in health and safety across its operations.

About Lafarge Africa Plc

Lafarge Africa Plc, a member of the Huaxin Group, is a leading provider of innovative and sustainable building solutions in Nigeria. Established in 1959 and listed on the Premium Board of the Nigerian Exchange Limited, the company operates cement plants in Sagamu and Ewekoro (Ogun State), Ashaka (Gombe State), and Mfamosing (Cross River State), with a total installed production capacity of 10.5 million metric tonnes per annum. It remains committed to sustainable development, combining industrial efficiency with environmental responsibility and stakeholder value creation.

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BY NKECHI NAECHE-ESEZOBOR—Sovereign Trust Insurance Plc has completed the structuring phase of its planned N5 billion Rights Issue, marking a significant step in its recapitalisation programme in line with the Nigerian Insurance Industry Recapitalisation Act (NIIRA).

The company disclosed this at a signing ceremony involving all transaction parties held at its corporate head office in Victoria Island, Lagos. The event signalled the conclusion of all internal processes and professional engagements required for the Rights Issue.

With the structuring phase completed, shareholders of Sovereign Trust Insurance Plc will now have the opportunity to subscribe to 2,510,848,144 ordinary shares of 50 kobo each at N2.00 per share, on the basis of three new ordinary shares for every existing holding.

The management urged shareholders to take full advantage of the offer, noting that the Rights Issue presents an opportunity to increase their stake in the company and benefit from its projected growth.

According to the Managing Director/Chief Executive Officer, Lucas Durojaiye, the company has set an ambitious growth agenda aimed at positioning itself among the top five insurance firms in Nigeria.

He noted that a strong capital base remains critical to achieving this objective, adding that full participation in the Rights Issue would strengthen the company’s capacity for expansion and long-term value creation.

“In achieving this aspiration, we have identified that a very robust capital base is critical to the success of the set agenda. We therefore call on our shareholders to fully exercise their rights and subscribe to the Rights Issue,” he said.

Durojaiye added that Sovereign Trust Insurance Plc is positioning itself to become one of the most preferred insurance companies in Nigeria, both as a service provider, an investment choice, and an employer of choice.

The Rights Issue forms part of broader efforts by the insurance sector to strengthen capitalisation, enhance competitiveness, and align with regulatory reforms under NIIRA.

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