Zambia-based cement producer Chilanga Cement, part of Huaxin Cement Co Ltd, posted a 34 per cent YoY increase in sales revenue in 2024. Revenue increased to ZMW2720m (US$95.4m) from ZMW2024 in 2023. The company increased its sales volumes despite facing a challenging trading environment as unstable currency fluctuations, increased competition, electricity shortages and multiple operational cost issues impacted on the company's operations.
Profit before tax saw a 16 per cent increase to ZMW743m from ZMW640m in 2023, supported by production and operational cost efficiency initiatives implemented throughout the year. Net profit for the year advanced 27 per cent to ZMW567,683 from ZMW447,441 in 2023.
Looking ahead, the company anticipates increased demand from bringing mines back into production and further investments in infrastructure and housing through public-private partnerships and Community Development Fund projects. In addition, to higher domestic sales, the company plans to continue its expansion into new export markets.
