Bua Foods Plc has posted a profit after tax of N125.3bn for the first quarter ended March 31, 2025, representing a 124.5 per cent increase from N55.8bn recorded in the same period of 2024.

According to its unaudited financial results filed with the Nigerian Exchange Limited on Wednesday, the company recorded a turnover of N442.1bn in the first quarter of 2025, compared to N356.9bn in the corresponding quarter of 2024.

Gross profit grew to N160.9bn from N115.4bn, while operating profit rose sharply by 32.7 per cent to N138.9bn from N104.7bn in the previous year. This growth was supported by improved sales performance and better cost efficiency.

Profit before tax stood at N136.4bn, more than double the N62.4bn reported in the same period of 2024. Earnings per share also surged to N6.96 from N3.10 in the previous year.

Finance income grew to N741.8m, while finance costs dropped significantly from N15.2bn to N3.8bn, reflecting better debt management and reduced borrowing costs. The company also reported a foreign exchange gain of N485.7m, in contrast to a loss of N27.3bn in the prior year.

Administrative expenses stood at N11.3bn, up from N4.6bn, while selling and distribution expenses increased to N11.1bn from N9.8bn.

The company’s total assets rose to N1.14tn in Q1 2025 from N1.1tn in December 2024, while shareholders’ equity increased to N554.3bn from N429.1bn, further strengthening its financial position.

The PUNCH reported that BUA Foods Plc has reported a profit after tax soaring by 145.3 per cent to N274.95bn in the fiscal year 2024.