Q1 2025: How BUA Cement Grew Revenue By 80.5% To 290.9bn
BUA Cement Plc (“the Company”) has released its first quarter 2025 Unaudited Financial Statements. The results show a reported net revenue increase of 80.5% to N290.9 billion from N161.1 billion in the first quarter of 2024. Furthermore, profit before tax increased by 368.6% to N99.7 billion fromN21.3 billion, while profit after tax increased by 351% to N81.1 billion from N18 billion in 2024.
Speaking on the overall performance, the Managing Director/ 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.
Looking ahead to the next quarter, we expect a similar impressive performance, supported by the costreduction initiatives being implemented”.
On the financial Performance, the Chief Financial Officer, 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”.
I. Financial Highlights
| Q1’2025 | Q1’2024 | %∆ | |
| Revenue | 290,821 | 161,131 | 80.5 |
| Cost of sales | (152,369) | (116,094) | 31.2 |
| Operating profit | 119,033 | 33,477 | 255.6 |
| Profit before tax | 99,741 | 21,286 | 368.6 |
| Profit after tax | 81,124 | 17,970 | 351.4 |
| Earnings per share (kobo) | 239.6 | 53.6 | 346.5 |
II. Operational Highlights
- Construction of a 700TPD regasification plant at the Sokoto Plant.
- Project works for the 3mmtpa greenfield line at Ososo, Edo State progressing as planned.
- Introduction of solid fuel at the Obu Plant – energy/cost optimization.
