Prime Business AfricaIn its unaudited financial statements for the period ended March 31, 2025, BUA Cement reported N290.82 billion revenue, up by 80.48 percent compared to the N161.13 billion generated in the corresponding period in 2024.
The cement manufacturer also saw a double-digit growth in its cost of sales, which increased by 31.24 percent year-on-year, from N116.09 billion to N152.36 billion.
Join our WhatsApp ChannelPrime Business Africa analysis showed that the cost of production gulped 52.39 percent of BUA Cement’s revenue in the first quarter of this year, dropping from 72.04 percent in the same period last year.
BUA Cement also revealed that after deducting the cost of sales, gross profit surged by 207.41 percent to N138.45 billion during the reviewed period, from N45.03 billion in Q1 last year.
Wth the elimination of administrative, selling and distribution expenses and inclusion of other income, BUA Cement recorded N119.03 billion as operating profit, up from N33.47 billion – reflecting a 255.57 percent year-on-year increase.
However, after discounting for net finance cost, net exchange loss, and minimum tax, BUA Cement recorded N99.74 billion as profit before tax (PBT), which increased by a whopping 368.58 percent year-on-year, from N21.28 billion.
Furthermore, BUA Cement filed an income tax of N18.61 billion in the first quarter of this year, up by 461.43 percent from the N3.31 billion filed in the corresponding period in 2024.
Regardless of the significant tax burden, BUA Cement’s profit after tax (PAT) grew in triple digits or 351.44 percent year-on-year in Q1 2025, rising from N17.96 billion to N81.12 billion.
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