The company credited much of its momentum to solid growth in African markets, with Nigeria standing out as a key contributor.

The Germany-headquartered firm posted a 1.3% increase in its result from current operations, bringing in $266 million for the quarter. The figure outpaced analysts’ expectations and supported the company’s decision to maintain its full-year outlook.

Officials pointed to rising demand across the African continent, particularly in Nigeria, where infrastructure projects and residential construction have continued to drive up cement consumption.

Heidelberg’s upbeat results mirror those of its main rival Holcim, which last month also cited North Africa as a strong growth region, helping to boost its own quarterly earnings.

With construction activity picking up pace in several African countries, cement producers are increasingly viewing the region as a core part of their global strategy.

--ChannelAfrica--