BUACEMENT in its financial scorecard for H1:2022, recorded revenue growth of 51.73% YoY to NGN188.56bn as a result of an increase in the sale of cements. Other income channels improved (175.76% YoY to NGN0.20bn) due to insurance claims (up 706.82% YoY). Operating expense jumped 76.32% YoY to NGN13.52bn during the period as hike in global commodity prices caused materials (+48.23%), energy (+64.66%), and other production expenses (+426.72%) to soar.
Lafarge Africa (WAPCO) improved its revenue by 28.67% YoY to NGN186.58bn in H1:2022. The rise in topline was impacted by all-round growth across the Cement (+28.19%), Concretes (+45.27%), and other products (+73.79%) of the business.
