BUA Cement Grows Revenue By 40.5% To N262.6 Billion On Cement Sales

BUA Cement Plc has announced its unaudited financial statements for the period ended September 30th, 2022, reporting revenue of N262.6 billion, a 40.5% increase year on year compared to N186.9 billion in Q3 2021.

The result is on the back of an inflationary year, where businesses and their consumers have had to deal with the rising cost of goods and services including Cement products which is the company’s main revenue.

The unaudited results which were released to the Nigerian Exchange Group (NGX) at the end of nine months ended September 30 indicated that operating profit increased by 31.1per cent to N99.2 billion from N75.7 billion as at 9M’2021 while Profit before Tax increased by 19.5% to N88.8 billion from N74.3 billion as at 9M’2021.

A Cursory view of the results showed that the company’s revenue was driven by a significant rise in revenue from sales of cement which delivered N262.6 billion.

Earnings per Share (EPS) was up 12.3per cent to 219 kobo from 195 Kobo as of 9M’2021.