<< Back             Poser >> HBM Nigeria’s profit rises 57% to N208bn in H1’26 By Peter Egwuatu HBM Nigeria Plc, formerly Lafarge Africa Plc, recorded a 57 per cent increase in profit after tax (PAT) to N208 billion in the first half of 2026 (H1’26), from N132.677 billion recorded in the corresponding period of 2025. The cement manufacturer, in its financial results released on the Nigerian Exchange Limited (NGX), also reported a 31 per cent increase in net sales during the period. The growth was driven by an 11 per cent increase in sales volume, improved operational stability and greater distribution efficiency. Operating profit rose by 51 per cent to N291 billion, compared with N192.270 billion in H1’25, while operating margin increased to 43 per cent from 37 per cent. Group Managing Director and Chief Executive Officer, HBM Nigeria, Mr Lolu Alade-Akinyemi, attributed the performance to disciplined cost management, operational efficiency and prudent financial management. He said the company remained focused on improving supply reliability, strengthening its cost leadership position, driving innovation and accelerating sustainability initiatives. Alade-Akinyemi disclosed that the company had commenced engineering design for its third production line at Calabar, a 3-million-tonne integrated cement facility. According to him, the project is progressing through the required development processes, with completion expected within 12 months after commencement of construction. He said HBM Nigeria would continue to leverage the industrial and technical expertise of Huaxin Building Materials Ltd to improve efficiency and operational performance. On the business outlook, Alade-Akinyemi said demand for cement remained positive, supported by infrastructure development, urbanisation and sustained activity in the construction sector. He said the company would focus on capturing further volume growth opportunities while maintaining cost discipline and operational excellence. “With a resilient operating platform, a strong balance sheet and disciplined execution of strategic priorities, the company remains well positioned to create sustainable long-term value for shareholders and other stakeholders,” he said. Vanguard Business News	Food inflation rate rises 5th consecutive month to 20.31% By Elizabeth Adegbesan Nigeria’s food inflation rate rose significantly by 2.79 percentage points to 20.31 percent in July from 17.52 percent in June, representing the fifth consecutive month’s rise since March 2026. The 20 percent threshold in food inflation rate was last recorded in February 2021. The National Bureau of Statistics, NBS, disclosed this yesterday in its […] HBM Nigeria’s profit rises 57% to N208bn in H1’26 By Peter Egwuatu HBM Nigeria Plc, formerly Lafarge Africa Plc, recorded a 57 per cent increase in profit after tax (PAT) to N208 billion in the first half of 2026 (H1’26), from N132.677 billion recorded in the corresponding period of 2025. The cement manufacturer, in its financial results released on the Nigerian Exchange Limited (NGX), also […] How 24 firms control over 70% of Nigeria’s stock market Twenty-four companies have emerged as the most valuable stocks on the Nigerian Exchange Limited (NGX) year-to-date (YtD) as of August 17, 2026, collectively accounting for 74.8 per cent of the total market capitalisation of the equities market. Ghana government shifts economic focus from stability to growth, jobs – Minister Mr Thomas Nyarko Ampem, Deputy Minister of Finance, says the government is shifting its economic focus from restoring macroeconomic stability to translating the gains into higher investment, production, exports and quality jobs. Nigeria-China trade hits $18bn in H1’26 Nigeria’s aquatic products have secured zero-tariff access to China’s market of about 1.4 billion consumers under a new protocol, as bilateral trade between both countries reaches $18 billion in the first half of 2026 (H1’26). The development is expected to boost Nigerian exports and foreign exchange earnings, with Chinese Ambassador to Nigeria, Yu Dunhai, disclosing that […] Cedi appreciates against US dollar from GH¢11.75 – GH¢10.94 in one week  The Ghana cedi appreciated significantly against the United States dollar over the past week, strengthening from an interbank buying rate of GH¢11.75 on August 10 to GH¢10.94 on August 17, according to Bank of Ghana daily exchange rate data.