Bua Foods Plc released its 2022 Q3 results on Friday, November 4, 2022, reporting a pre-tax profit of N31.881 billion. This represents a 61% increase from the N19.821 billion the company reported during the same period in 2021.
Revenue
2022 Q3: N120.5 billion
2021 Q3: N86.5 billion
Change: +39.31%
Gross Profit
2022 Q3: N41.1 billion
2021 Q3: N26.6 billion
Change: +54.51%
Operating profit
2022 Q3: N33.7 billion
2021 Q3: N21.8 billion
Change: +55.59%
Finance charges
2022 Q3: N2.251 billion
2021 Q3: N2.334 billion
Change: -3.56%
Pre-tax profit
2022 Q3: N31.9billion
2021 Q3: N19.8 billion
Change: +61.1%
Net Profit after tax
2022 Q3: N30.05 billion
2021 Q3: N18.19 billion
Change: +65.2%
Cash in hand
2022 Q3: N41.4 billion
2021 Q3: N30.3 billion
Change: +36.63%
Bottom line: The growth in pre-tax profits was due to the increase in revenue from both the sugar and flour divisions of the company, driven majorly by price adjustments and export sales as the volume sold declined. While the volume sold declined due to a decline in production, the decline in production was attributable to energy disruptions within the period.
