BUA Cement Plc has reported a profit after tax of ₦81.12 billion for the first quarter (Q1) of 2025, according to the company’s unaudited financial statement.
This was an increase from ₦17.97 billion posted in the same period of 2024.
The cement giant reported revenue of ₦290.82 billion for the three-month period, up 80.5 percent compared to ₦161.13 billion recorded in Q1 2024.
Cost of sales rose to ₦152.37 billion, representing a 31.3 percent increase from ₦116.09 billion reported a year earlier, but the company’s gross profit still surged to ₦138.45 billion when compared to ₦45.04 billion in Q1 2024.
Operating profit grew to ₦119.03 billion from ₦33.48 billion, supported by disciplined cost management despite a notable rise in selling, distribution, and administrative expenses.
Finance costs spiked to ₦19.32 billion from ₦4.88 billion due to prevailing macroeconomic factors, leading to a net finance cost of ₦17.79 billion.
Meanwhile, the company reported a net exchange loss of ₦836.81 million compared to a larger loss of ₦10.06 billion in the corresponding period last year.
Profit before taxation stood at ₦99.74 billion, nearly five times the ₦21.29 billion recorded a year earlier.
After accounting for income and deferred taxes of ₦18.62 billion, BUA Cement closed the period with a profit after tax of ₦81.12 billion.
Earnings per share rose impressively to 239.56 kobo from 53.65 kobo recorded in the prior period.
The strong performance reflects BUA Cement’s resilience amid challenging economic conditions and its continued investment in expanding production capacity to meet growing market demand.
Market analysts expect the company’s strong Q1 performance to drive positive investor sentiment as it consolidates its position in Nigeria’s competitive cement industry.
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