BUA Cement Plc has posted a net revenue increase of 80.5 per cent to N290.9 billion for its first quarter (Q1) ended March 31, 2025.
The Company Q1 unaudited financial statements revealed that the net revenue from N161.1 billion in Q1, 2024 to N290.9 billion for the period under review.
Cost of sales rose by 31.2 per cent to N152.369 billion as against N116.094 billion in 2024, while operating profit stood at N119.033 billion from N33.477 billion, a year-on-year growth of 255.6 per cent.
Furthermore, profit before tax increased by 368.6 per cent to N99.7 billion from N21.3 billion, while profit after tax rose by 351 per cent to N81.1 billion from N18 billion in 2024. Earnings per share for Q1, 2025 amounted to N239.6 compared to N53.6.
Speaking on the overall performance, the managing director/CEO of BUA Cement, 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.”
Looking ahead to the next quarter, Binji stated, “we expect a similar impressive performance, supported by the cost reduction initiatives being implemented”.
On the financial Performance, the chief financial officer, BUA Cement, 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 is Nigeria’s second largest cement company and the largest producer in its North-West, South-South and South-East regions; with a combined installed capacity of 17mmtpa and with plans underway to increase existing capacity to 20mmtpa with the construction of a greenfield cement plant in Ososo, Edo State. BUA Cement operates strategically from Okpella, Edo State and Kalambaina, Sokoto State.
Currently, it is one of the most capitalised companies of the Nigerian Exchange Group (NGX). BUA Cement is committed to quality, a differentiating attribute, driven by its people, innovation and technology; and positioned to solve Nigeria’s cement under capacity while driving economic growth and development.
