Prime Business AfricaBUA Cement reported a turnover of N289.48 billion in the second quarter (Q2) of 2025, surpassing the N202.81 billion generated in Q2 2024.
The 42.73 percent growth in revenue overshadowed the 2.60 percent increase recorded in the cost of sales, which rose from N138.57 billion posted in Q2 2024, to N142.17 billion in the same period this year.
Join our WhatsApp ChannelThis led to a 129.31 percent increase in the company’s gross profit, as it increased to N147.30 billion during the period under review, compared to the N64.23 billion reported in Q2 2024.
Other income also grew to N310.66 million in the second quarter of 2025, up by 224.02 percent, from the N95.87 million recorded during the same period last year.
Similarly, selling and distribution costs increased by 65.31 percent to N15.37 billion in Q2 2025, exceeding the N9.30 billion gulped between April and June 2024.
However, administrative expenses decreased to N5.88 billion during the period under review, compared to the N6.55 billion spent during the second quarter of 2024, reflecting a 10.20 percent drop.
Nevertheless, the company recorded a 160.63 percent year-on-year increase in operating profit, which grew from N48.47 billion to N126.35 billion.
But this was impacted by the 22.33 percent year-on-year decrease in finance income, as it grew to N5.23 billion, from N6.74 billion, while finance costs increased by 213.52 percent year-on-year, from N6 billion to N18.81 billion.
As a result, BUA Cement recorded a net finance cost of N13,57 billion in the second quarter of 2025, compared to the N740.61 million net finance income reported in the same period last year.
Despite the surge in finance costs, BUA Cement managed to pull a 510.65 percent year-on-year increase in profit before tax (PBT), which increased from N18.84 billion to N115.06 billion.
During the period under review, the company said it paid N15.29 billion in income tax, compared to the N2.55 billion filed in the second quarter of 2024, representing an increase of 497.64 percent.
This reduced the bottom line to N99.77 billion in profit after tax (PAT) in Q2 2025, surpassing the N16,28 billion PAT recorded in the same period in Q2 2024, reflecting a 512.69 percent increase.
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