Nigeria, July 22 -- Lafarge Africa recorded a 352 per cent leap in net profit in the first six months of the year, compared to a year ago.

The leap was helped by a building construction boom in Nigeria, where the cement industry has been projected to grow by 8.4 per cent in 2025.

Management attributed the sharp improvement in bottom line to relative stability of the naira during the period in contrast to last year, which was "heavily impacted by FX losses."

Quarter on quarter, after-tax profit jumped 248 per cent to N84 billion, while revenue increased by 70 per cent to N268.6 billion, according to the newly released earnings report of the company.

"Following our impressive Q1 results, Q2 performance further showcases the strength of ...