BUA Foods Plc has released its financial statements for the first quarter ended 31st March 2025, reporting a pre-tax profit of N136.3 billion.
This represents a 118.70% increase compared to the N62.3 billion recorded in the first quarter of 2024, driven by higher turnover and lower finance costs.
Turnover for the quarter stood at N442.06 billion, reflecting a 23.85% year-on-year rise from N356.9 billion in Q1 2024, supported by contributions across the company’s various product segments.
- Fortified sugar contributed the largest portion of revenue at N165.8 billion, followed by bakery flour at N163.2 billion.
- Non-fortified sugar generated N45.1 billion, while pasta accounted for N41.5 billion. The remainder came from other product categories.
As turnover soared, the cost of sales also spiked by 16.42%, increasing from N241.5 billion in Q1 2024 to N281.1 billion in the current quarter.
- Despite this, gross profit grew, rising to N160.9 billion, up 39.41% from N115.4 billion a year earlier.
Less favorably, administrative expenses more than doubled to N11.3 billion, representing a 149.50% increase, while selling and distribution expenses also rose by 13.30% to N11.07 billion.
Nothingness, operating profit reached N138.9 billion, marking a 32.67% increase from N104.7 billion in the same period last year.
- BUA Foods also reduced finance costs by 75.13%, from N15.1 billion in Q1 2024 to N3.7 billion.
On the balance sheet, total assets grew to N1.1 trillion, up by 4.30%, while retained earnings increased by 29.76% to N546.2 billion.
Key Highlights:
- Turnover: N442.06 billion, +23.85% YoY
- Cost of Sales: N281.1 billion, +16.42% YoY
- Gross Profit: N160.9 billion, +39.41% YoY
- Administrative Expenses: N11.3 billion, +149.50% YoY
- Selling & Distribution Expenses: N11.07 billion, +13.30% YoY
- Operating Profit: N138.9 billion, +32.67% YoY
- Pre-tax Profit: N136.3 billion, +118.70% YoY
- Retained Earnings: N546.2 billion, +29.76% YoY
As of market close on 30th April 2025, shares of the company were priced at N418, reflecting a 0.72% year-to-date performance on the Nigerian stock market.
