BUA Foods Plc more than doubled its post-tax profit for the first three quarters of 2025, compared to the corresponding period of last year as an appreciable rise in revenue, backed by cost-cutting measures, lifted net income.
“Our 9M 2025 performance, highlighted by a strong double-digit revenue growth and a 101% year-on-year increase in profit after tax to ₦405 billion, underscores a sustained growth trajectory supported by ongoing economic reforms and a progressively more stable business environment,” CEO Ayodele Abioye said in an earnings release issued on Tuesday.
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The BUA Foods chief also remarked that the fast-moving consumer goods manufacturer will keep its gaze on implementing its strategic priorities by firming up end-to-end integration in its value chain and putting to use the competence and commitment of its board and workforce in keeping value creation going.
The turnover of BUA Foods, Nigeria’s biggest company by market value, approximately leapt by one third to N1.4 trillion in the period after both the flour and sugar units posted increases in sales volume.
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Flour, which as of the same period last year had a much smaller share of revenues than sugar, now contributes most to the income, thanks in part to improvement in the product mix of the division.
The company also mills rice, produces olein-based vegetable oil and manufactures pasta. It is currently on a drive to build a state-of-the-art wheat conveying and handling system with a capacity of 2 million metric tonnes per annum.
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Management expects the facility to link BUA Ports to BUA Flour & Pasta Mills in Port Harcourt when the project is completed.
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Administrative expenses surged by over twofold to N30.4 billion, driven by a management fee of N10.1 billion, a cost category that never featured in the financials for the same period of 2024.
A solid gross profit growth of 56 per cent helped shrug off the impact that a plunge in other income from N25.2 billion to N587.4 million would have had on operating profit.
Sharp cutbacks in finance costs, net finance (costs) income and finance exchange loss all helped to strengthen pre-tax profit, which came to N432.6 billion from N215.7 billion a year ago. Profit after tax stood at N405.3 billion, up from N201.4 billion.
BUA Foods floated its shares for the first time on the Nigerian Exchange in January 2022 at a market capitalisation of N720 billion, now worth N12.5 trillion.
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