…targets completion of plant expansion by Q1 2027
HBM Nigeria Plc (formerly Lafarge Africa Plc) has sustained its robust financial trajectory, posting an impressive ₦272 billion in profit for the nine-month period ended September 30, 2026.
This marks a significant milestone as the company’s first full cycle of quarterly financial disclosures following the high-profile acquisition of former Lafarge Africa by Huaxin Building Materials Limited.
The un-audited financial statements reveal a continuation of the strong operational momentum witnessed earlier in the year, driven by higher cement sales volume, enhanced distribution efficiency, and strict cost leadership across its operations.
Building on its solid first-half gains, the building materials giant reported a 31 percent rise in nine-month profit to ₦272 billion, further solidifying its competitive positioning in Nigeria’s construction sector.
Commenting, HBM CEO, Lolu Alade-Akinyemi attributed the stellar performance to disciplined execution of strategic priorities, optimized operational efficiency, and a resilient balance sheet.
“Our 9M 2026 results confirm that we remain firmly on track to deliver our full-year objectives. Net Sales grew 19% year-on-year to ₦928 billion, Operating Profit rose 28% to ₦383 billion, and Profit After Tax increased 31% to ₦272 billion. This performance reflects sustained volume growth, improved distribution efficiency, and
disciplined cost management across the business.”
“Third-quarter performance was moderated by planned annual maintenance at our existing plants to correct restriction of output and unlock effective capacity accessibility. As a result, Q3 closed with a Net Sales of ₦250 billion and Profit After Tax of ₦64 billion, a decline of 5% and 15%, respectively, than in the same period last year.”
“The maintenance work strengthens the reliability and efficiency of our existing assets; as we enter Q4, traditionally a period of stronger demand, we are well positioned to capture the demand now and in the future.”
“We remain focused on improving supply reliability, advancing our cost leadership agenda, driving innovation, accelerating our sustainability initiatives, and upholding the highest standards of health and safety. We continue to leverage on the industrial and technical expertise of Huaxin Building Materials Group Co., Ltd to drive
operational excellence and improve efficiency across the business.”
“We will continue to exercise disciplined capital allocation, maintain rigorous cost control, and invest selectively in opportunities that support our long-term growth strategy. Backed by a resilient operating platform and a clear
strategic roadmap, we are confident in our ability to create sustainable value for our shareholders and all stakeholders.”
“Our achievements reflect the dedication of our people, the trust of our customers, and the confidence of our stakeholders. I thank all of them sincerely for their continued support as we work together to build a stronger,
more sustainable future,” the CEO said.
The company also revealed that the expansion of her Sagamu, Ogun State (3.5MTPA) and Ashaka, Gombe State (2MTPA) plants is on track and is expected to be delivered in Q1 2027.
“HBM Nigeria has commenced the engineering design for its third production line at Calabar, a state-of-the-art 3-million-ton integrated cement facility. The project is progressing through the requisite development processes, with completion expected within 12 months following commencement of construction,” the statement added.
