BUA  Foods posts 101% profit surge as revenue hits US$989M

NIGERIA – BUA Foods Plc has recorded a striking performance in the first nine months of 2025, reporting a 101 % increase in profit after tax to N405.27 billion (US$281.6 million), up from N201.39 billion in the same period of 2024.

The food‑manufacturing powerhouse also posted a 33 % rise in revenue to N1.42 trillion (US$987 million), underpinned by strong demand and operational efficiency across its sugar, flour, pasta and rice divisions.

Flour, which as of the same period last year had a much smaller share of revenues than sugar, now contributes most to the income, thanks in part to improvement in the product mix of the division.

The company also mills rice, produces olein-based vegetable oil and manufactures pasta. It is currently on a drive to build a state-of-the-art wheat conveying and handling system with a capacity of 2 million metric tonnes per annum.

Management expects the facility to link BUA Ports to BUA Flour & Pasta Mills in Port Harcourt when the project is completed.

The company’s unaudited results released to the Nigerian Exchange Ltd. (NGX) show gross profit climbed 56 % to N520.65 billion (US$362 million), while profit before tax surged 101 % to N432.57 billion (US$300 million). Earnings per share doubled to N22.52 from N11.26.

Revenue contributions were led by the Sugar and Flour divisions, each accounting for 42 % of total sales. The Sugar division grew 10 % to N599.2 billion (US$416 million), while Flour recorded a 52 % increase to N591.5 billion (US$411 million), driven by higher sales volumes and improved product mix.

The Pasta division contributed 10 % of group revenue, with a 12 % uplift to N150.5 billion (US$105 million), while the Rice division delivered an impressive N79.5 billion (US$55 million), up sharply from N1.6 billion a year earlier and representing six % of total turnover.

BUA Foods’ balance sheet also strengthened: total assets rose 13 % to N1.24 trillion (US$862 million), while equity climbed 40 % to N600.32 billion (US$418 million), fuelled by a 41 % increase in retained earnings.

The company’s net finance cost dropped 57.8 % to N4.86 billion (US$3.4 million), reflecting disciplined borrowings and improved cost of finance.

Speaking on the results, Managing Director Ayodele Abioye attributed the strong performance to resilience and strategic agility.

“These results demonstrate a sustained growth trajectory supported by ongoing economic reforms and a progressively more stable business environment. We remain focused on executing our strategic priorities, deepening end‑to‑end integration across the value chain, and harnessing the expertise and commitment of our Board and employees to sustain value creation.”

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