HBM Nigeria Plc, formerly Lafarge Africa Plc, recorded an 18.9 per cent increase in revenue to N928.25bn in the nine months ended September 30, 2026, while profit after tax rose by 30.9 per cent to N271.99bn, according to its unaudited financial statements filed on the Nigerian Exchange.
The cement manufacturer’s revenue increased from N780.49bn in the corresponding period of 2025, while profit after tax climbed from N207.78bn, reflecting improved earnings despite higher production and administrative costs.
Profit before tax rose by 32.3 per cent to N414.43bn from N313.29bn, while operating profit advanced by 28.2 per cent to N382.68bn from N298.41bn a year earlier.
Gross profit increased by 21.8 per cent to N555.60bn from N456.12bn, supported by revenue growth. However, the company’s cost of sales rose to N372.65bn from N324.36bn, indicating higher production costs during the period.
Administrative expenses increased by 41.4 per cent to N63.33bn from N44.79bn, partly offsetting the improvement in operating performance. Selling and distribution costs, however, declined to N110.32bn from N117.24bn.
Finance income rose to N33.73bn from N20.28bn, providing additional support to earnings, while finance costs declined to N1.98bn from N5.40bn.
Income tax expense increased to N142.44bn from N105.51bn, reflecting the higher tax charge recorded during the period. Earnings per share consequently rose to 1,689 kobo from 1,290 kobo in the corresponding nine months of 2025.
Despite the stronger year-to-date performance, HBM Nigeria recorded a weaker third-quarter showing. Revenue for the three months ended September 30, 2026, declined by 5.2 per cent to N249.84bn from N263.51bn in the corresponding quarter of 2025.
Profit after tax for the quarter fell by 15.3 per cent to N63.64bn from N75.10bn, while profit before tax declined by 14.8 per cent to N96.69bn from N113.55bn. Gross profit also decreased to N133.78bn from N160.36bn.
The quarterly results indicate that the company’s cumulative earnings growth was achieved despite weaker revenue and profitability in the third quarter.
On the balance sheet, total assets stood at N1.22tn as of September 30, 2026, compared with N1.21tn at the end of December 2025. Property, plant and equipment increased to N650.03bn from N448.58bn, reflecting investment in the company’s asset base.
Cash and cash equivalents, however, declined to N102.96bn from N388.07bn at the end of 2025. Total liabilities rose to N607.43bn from N514.03bn, while total equity fell to N611.61bn from N694.00bn.
The cash flow statement showed that net cash generated from operating activities increased to N272.31bn from N235.76bn in the corresponding period of 2025.
Capital expenditure on property, plant and equipment rose sharply to N235.02bn from N53.40bn, indicating increased investment in productive assets.
The company also recorded dividend payments of N354.37bn during the nine-month period, compared with N96.65bn in the corresponding period of the previous year. The dividend outflow contributed to the decline in cash balances over the period.
HBM Nigeria changed its name from Lafarge Africa Plc on May 6, 2026, and remains listed on the Nigerian Exchange.