HBM posts 31% revenue, 57% profit growth in H1
HBM Nigeria Plc, formerly Lafarge Africa Plc, a leading provider of innovative building solutions and manufacturer of cement, has declared a Profit After Tax of N208bn, representing a 57 per cent...
HBM Nigeria Plc, formerly Lafarge Africa Plc, a leading provider of innovative building solutions and manufacturer of cement, has declared a Profit After Tax of N208bn, representing a 57 per cent growth for the first half of 2026.
Net sales grew 31 per cent in H1 2026, driven by an 11 per cent volume growth, enhanced operational stability, and improvement in distribution efficiency.
Operating profit during the period grew 51 per cent to close at N291bn, supported by sustained efficiency gains across the business, while operating margin soared to 43 per cent from 37 per cent in H1 2025.
Speaking on the performance, the Group Managing Director and Chief Executive Officer, HBM Nigeria Plc, Lolu Alade-Akinyemi, said, “Our H1 2026 performance demonstrates the continued strength of our business and the successful execution of our strategic priorities. These results reflect disciplined cost management, operational excellence, and prudent financial stewardship. We are focused on further improving supply reliability, advancing our cost leadership agenda, driving innovation, accelerating our sustainability initiatives, and maintaining the highest standards of health and safety.”
He further stated that HBM Nigeria will remain focused on building on strong operational momentum by leveraging the industrial and technical expertise of Huaxin Building Materials Ltd to drive operational excellence and improve efficiency across the business.
In light of this, HBM Nigeria has commenced the engineering design for its third production line at Calabar, a state-of-the-art 3-million-tonne integrated cement facility. The project is progressing through the requisite development processes, with completion expected within 12 months following the commencement of construction.
On HBM Nigeria’s business outlook for the rest of the year, Alade-Akinyemi added, “Nigeria’s demand outlook for cement remains positive, supported by ongoing infrastructure development, urbanisation, and resilient activity across the construction sector, despite a dynamic global operating environment. As macroeconomic conditions continue to improve, we expect demand across our key market segments to remain supportive of sustainable growth.
“We plan to continue focusing on capturing volume growth opportunities while maintaining disciplined cost management and operational excellence to strengthen profitability and preserve margins. The company remains well-positioned to create sustainable long-term value for its shareholders and all stakeholders by leveraging its resilient operating platform, a strong balance sheet, and disciplined execution of strategic priorities.”
HBM Nigeria Plc is a member of Huaxin Building Materials Limited, an integrated world building materials provider. Established in 1959, HBM Nigeria is a publicly quoted company on the Premium Board of the Nigerian Exchange Limited and serves the Nigerian construction market with a wide range of building and construction solutions. HBM Nigeria Plc is committed to sustainable development and is a key driver of infrastructure projects.
Huaxin Building Materials Limited is a publicly listed company on both the Shanghai and Hong Kong Stock Exchanges and is one of the top ten cement manufacturers globally.
HBM Nigeria Plc has four major production plants in Nigeria and the widest cement operations footprint in the country, with plants in the South-West (Ewekoro and Sagamu in Ogun State), North-East (Ashaka, in Gombe State), and South-East (Mfamosing, Cross River State), along with Ready-Mix operations in Lagos, Abuja, and Port Harcourt.
HBM Nigeria Plc has a current installed cement production capacity of 10.5 million tonnes per annum. The company leverages its innovative expertise to provide value-added products and service solutions to the building and construction industry in Nigeria.