BUA Cement Plc has released its 1Q25 unaudited financial statements. The results show a reported net revenue increase of 80.5 per cent to NGN290.9bn (US$180.3m) from NGN161.1bn in the 1Q24. Furthermore, profit before tax increased by 368.6 per cent to NGN99.7bn from NGN21.3bn, while profit after tax increased by 351 per cent to NGN81.1bn from NGN18bn in the 1Q24.
Speaking on the overall performance, BUA Cement MD/CEO, Engr Yusuf Binji, said: “I am extremely delighted about our first quarter performance which has seen us sustain our continued growth in earnings. This is evidence of trust, consistent quality and product delivery, aided by our commitment to excellence. In addition, we achieved further cost improvements through enhanced production efficiency."
The company's CFO, Chikezie Ajaero, said: “The quarter was not just a strong one, but a recovery from our performance in the first quarter of 2024. Our margins are recovering to acceptable levels, supported by exchange rate stability despite a high-cost operating environment. We remain confident that the measures we have implemented will continue to yield positive outcomes for the company.”
BUA Cement has an installed capacity of 17Mta and with plans underway to increase existing capacity to 20Mta with the construction of a greenfield cement plant in Ososo, Edo State, Nigeria.
