BUA Cement Plc has reported a revenue of N290.8bn for the three months ended March 31, 2025, representing an increase of 80.5 per cent compared to N161.1bn recorded in the corresponding period of 2024.
The unaudited financial statements of the company filed with the Nigerian Exchange Limited recently showed that the revenue growth was driven mainly by an increase in the sale of cement during the period under review.
Despite the rise in revenue, BUA Cement’s cost of sales also rose by 31.2 per cent to N152.4bn from N116.1bn in the same period of 2024, reflecting higher energy costs, materials, repairs, and maintenance expenses.
The company’s gross profit stood at N138.5bn in the first quarter of 2025, higher than the N45bn recorded in the same period of 2024.
BUA Cement recorded an operating profit of N119bn, compared to N33.5bn in the previous year. However, the company reported a net finance cost of N17.8bn as against N1.8bn in 2024, due to an increase in finance costs from N4.9bn to N19.3bn.
Its net exchange loss was N836.8m, an improvement from the N10.1bn loss recorded in the corresponding period of 2024.
Profit before taxation rose to N99.7bn from N21.3bn in the same period of 2024, while profit after taxation stood at N81.1bn, representing a growth of 351.4 per cent from N18bn in 2024.
The company’s total comprehensive income for the period was N81.1bn, reflecting a strong performance despite macroeconomic challenges.
In its statement of financial position, BUA Cement’s total assets stood at N1.58tn as of March 31, 2025, up slightly from N1.57tn as of December 31, 2024.
The company’s equity rose to N469.7bn in March 2025 from N388.5bn in December 2024, while total liabilities decreased to N1.11tn from N1.18tn.
BUA Cement’s basic earnings per share for the first quarter of 2025 stood at 239.56 kobo, higher than the 53.65 kobo recorded in the corresponding quarter of 2024.
The PUNCH reported that BUA Cement Plc has reported a profit after tax of N73.91bn for the financial year ended December 31, 2024, reflecting a 6.4 per cent increase from the N69.45bn recorded in 2023.(Punch)
