BUA Cement increases revenues by 28% in 9M23

BUA Cement has released its 9M23 results and posted revenue of NGN335,863m up 27.9 per cent from NGN262,598m in 9M22. Operating profit increased from NGN99,245m in 9M22 to NGN119,683m in 9M23, up 20.6 per cent. Profit after tax for the 9M23 reached NGN76,065m up from NGN74014m in 9M22.

Plant expansion at the Obu and Sokoto plants are ongoing with commissioning scheduled for the 1Q24 which will bring the company’s total cement capacity in Nigeria up to 17Mta.