Prime Business AfricaBUA Foods recorded N470.21 billion turnover in the second quarter (Q2) of 2025, up by 49.05 percent when compared to the N315.47 billion secured in the corresponding period of last year.
This was disclosed in BUA Foods’ unaudited financial statements for the second quarter of 2025, which also revealed that the company’s cost of sales increased by 38.76 percent year-on-year, from N210.45 billion to N292.03 billion.
Join our WhatsApp ChannelAccording to BUA Foods, gross profit for Q2 2025 was N178.18 billion, compared to the N105.02 billion recorded in the same period in 2024, representing an increase of 69.66 percent.
Also, the company incurred N9.74 billion as administrative expenses in the second quarter of this year, compared to the N5.49 billion recorded in Q2 2024, indicating a 77.25 percent increase.
BUA Foods also reported that selling and distribution expenses increased by 166.34 percent to N22.85 billion during the period under review, against the N8.58 billion incurred between April and June last year.
Furthermore, the manufacturer said other income declined by 96.57 percent to N294.69 million in the second quarter of this year, falling below the N8.6 billion posted in Q2 2024.
However, operating profit increased by 46.55 percent to N145.88 billion in Q2 2025, surpassing the N99.54 billion recorded in the corresponding period last year.
But finance income decreased by 95.85 percent year-on-year, from N9.11 billion to N377.67 million, while finance costs increased by 45.56 percent, from N4.44 billion to N6.47 billion.
As a result, the company suffered net finance costs of N6.09 billion within April and June 2025, failing to replicate the N4.66 billion net finance income recorded in the same period in 2024.
BUA Foods also reported that foreign exchange (FX) loss dropped to N78.66 million in the second quarter of this year, compared to the N27.38 billion FX loss suffered in Q2 the previous year.
The 99.71 percent decrease in FX loss supported the bottom line, which increased by 81.84 percent year-on-year, from N76.82 billion to N139.70 billion.
During the review period, BUA Foods filed income tax of N8.01 billion, compared to the N1.71 billion reported as taxation in the corresponding period in 2024, representing an increase of 366.37 percent.
Nevertheless, BUA Foods closed the second quarter with a 75.33 percent increase in profit after tax (PAT), which increased to N131.68 billion in Q2 2025, against the N75.10 billion posted in Q2 2024.
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