BUA Cement grows revenue by 40.5% to N262.6 billion on increased 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 unaudited financial report which was released to the Nigerian Exchange Group (NGX) showed that operating profit increased by 31.1% to N99.2 billion from N75.7 billion as of Q3 2021.

A closer look at the financial report showed that the company’s revenue was driven by a significant rise in revenue from the sale of cement which delivered N262.6 billion.

Meanwhile, profit before tax increased by 19.5% to N88.8 billion from N74.3 billion as of 9M’2021. In the same vein, profit after tax increased from N65.9 billion in Q3 2021 to N74 billion during the period under review.

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

The cost of sales rose by 43.32% to N142.829 billion from N99.654 billion in 2021. The increase was on the back of energy costs and raw materials import with its attendant foreign exchange burden that has remained a militating factor for the less-than-sterling performance of manufacturers.

key financial highlights

- Revenue increases by 40.5% to N262.6 billion from N186.9 billion as of 9M’2021.

- Operating profit increases by 31.1% to N99.2 billion from N75.7 billion as of 9M’2021.

- Profit before Tax increases by 19.5% to N88.8 billion from N74.3 billion as of 9M’2021.

- Earnings per Share (EPS) went up 12.3% to 219 kobos from 195 Kobo as of 9M’2021.