BUA Foods Plc recorded a revenue growth of 24 percent to N442.1billion in Q1 2025, up from N356.9billion in the corresponding period of 2024.
The company disclosed this in its unaudited financial results for the first quarter of 2025,filed with the Nigerian Exchange Limited (NGX).
The company also reported a gross profit of N160.91billion in Q1 2025, a 39 percent increase compared to N115.42billion in Q1 2024.
This growth led to an improved gross profit margin of 36.4 percent, a 406 basis point increase from 32.3 percent in the prior quarter.
Total operating expenses for the period increased by 56 percent to N22.39bn (Q1 2024: N14.37 billion) due to increases in selling and distribution expenses, which rose 13 percent to N11.08bn driven by logistics costs, and administrative expenses up 147% to N11.32bn.
Despite the increase in operating expenses, BUA Foods achieved a 124% profit after tax to N125.28bn in Q1 2025, compared to N55.82bn in Q1 2024.
Consequently, Earnings per Share also saw a significant increase of 125% to N6.96 from N3.10 in the corresponding period.
The company’s total equities stood strong at N554.34bn as of Q1 2025, representing a 29.2% increase from N429.06bn in FY 2024.
The performance was driven by increases in revenue from Flour, which soared 145 percent to N176.2bn, Pasta rose 12 percent to N41.5bn, and Rice recorded a 1617 percent to N13.02bn.Sugar revenue, however, saw a slight 11 percent quarter-on-quarter decrease to N211.3bn (Q1 2024: N238.2 billion).
Commenting on the results, Engr. (Dr.) Ayodele Abioye, the Managing Director, said:” We are pleased to begin 2025 on a strong note, as our business continued to demonstrate resilience and adaptability amidst a still-evolving macroeconomic landscape.
Despite operating in a high-cost environment, our proactive supply chain measures, and improved internal efficiencies enabled us to sustain strong operational momentum.”
