Lafarge Jordan reports 'record' profit of JD33.8m in 2024

AMMAN — Lafarge Jordan Cement on Monday announced a net consolidated profit of JD33.8 million after tax for 2024, a "significant" turnaround from JD1.5 million in 2023.

The sharp increase is attributed to the successful implementation of the company's restructuring plan following its insolvency process, the Jordan News Agency, Petra, reported.

"These results underscore the success of the company’s reorganisation plan, demonstrating its ability to recover and move towards a more stable and growing future," Lafarge Jordan Cement CEO Samaan Samaan said in a statement.

Lafarge Jordan aims to strengthen its market position by introducing new products and integrated marketing services that meet customer needs and enhance the user experience, Petra said.

Samaan also noted that the company is working on improving product quality, expanding its portfolio and offering innovative building solutions that support sustainability and efficiency in the construction sector.

He explained that the company has adopted a multi-year growth strategy, featuring short-term plans to enhance financial and operational performance as well as long-term initiatives to expand its business and introduce new market-driven solutions.

This strategy is based on a "well-structured" approach that takes into account market shifts and global trends in the construction industry, enabling the company to continue delivering added value to customers and shareholders alike he added.

Samaan noted that Lafarge is also committed to investing in modern technology and innovation in cement and concrete manufacturing, which will allow the company to offer more sustainable and efficient products.

Samaan emphasised that the company has a "clear" vision for the future of the construction sector in Jordan, ensuring its continued leadership in providing advanced and eco-friendly building solutions.