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BUA Foods Plc has posted a remarkable financial performance for the first quarter ended March 31, 2025, recording a pre-tax profit of N136.3 billion. This marks a 118.70% rise from the N62.3 billion reported during the same period last year, underpinned by a significant boost in turnover and a sharp reduction in finance costs.
The company’s turnover climbed to N442.06 billion, a 23.85% year-on-year increase from N356.9 billion in Q1 2024. This growth was supported by strong sales across all product segments, with fortified sugar emerging as the top contributor at N165.8 billion. Bakery flour followed closely, generating N163.2 billion. Additional revenues came from non-fortified sugar and pasta, which brought in N45.1 billion and N41.5 billion respectively, with other product lines making up the rest.
While the surge in sales led to a rise in cost of sales to N281.1 billion—an increase of 16.42% from N241.5 billion in the previous year—the company’s gross profit still saw a substantial jump, hitting N160.9 billion. This reflects a 39.41% improvement compared to the N115.4 billion recorded in Q1 2024.
Administrative expenses saw a considerable spike, more than doubling to N11.3 billion, representing a 149.50% increase. Selling and distribution costs also rose to N11.07 billion, up by 13.30%. However, operating profit remained strong, standing at N138.9 billion, a 32.67% growth from the N104.7 billion reported a year earlier.
A key factor in the improved bottom line was the drastic reduction in finance costs, which dropped by 75.13% to N3.7 billion from N15.1 billion in Q1 2024.
The company’s balance sheet also reflected steady growth, with total assets increasing by 4.30% to reach N1.1 trillion. Retained earnings rose significantly to N546.2 billion, representing a 29.76% year-on-year improvement.
As of the close of trading on April 30, 2025, BUA Foods shares were priced at N418, translating to a modest 0.72% gain year-to-date on the Nigerian stock market.
