BUA Cement Plc has reported a significant improvement in its financial performance for the half year ended June 30, 2025, with group revenue rising by 59 per cent to N580.3bn from N363.9bn posted in the corresponding period of 2024.
The cement manufacturing giant also recorded a sharp rise in profit after tax, which surged by 428 per cent to N180.9bn, compared to N34.3bn declared in the same period last year.
The company’s unaudited financial statement submitted to the Nigerian Exchange Limited showed that in the second quarter alone (April–June 2025), revenue increased by 43 per cent to N289.5bn, up from N202.8bn reported in Q2 2024. Profit after tax in the quarter also rose substantially by 512 per cent to N99.8bn from N16.3bn in the same period last year.
Gross profit for the six-month period rose by 161.4 per cent to N285.8bn from N109.3bn in 2024, despite a 15.6 per cent rise in cost of sales, which climbed to N294.5bn from N254.7bn. This indicates improved cost efficiency and higher price realisations.
Selling and distribution expenses increased by 83 per cent to N29.8bn, up from N16.3bn in the previous year, while administrative expenses rose marginally by 3.6 per cent to N11.6bn from N11.2bn.
Operating profit recorded a threefold increase, rising by 199 per cent to N245.4bn from N82bn in 2024, reflecting stronger top-line growth and controlled operational costs.
Finance costs ballooned 249.5 per cent to N38.1bn from N10.9bn, indicating the impact of a higher interest rate environment and possibly new debt financing. However, finance income rose to N6.8bn from N2.6bn, providing some cushion.
A notable turnaround was seen in foreign exchange-related items, as the company posted a net exchange gain of N782.8m, compared to a loss of N40bn in the first half of 2024, a shift attributed to improved FX management or favourable naira-dollar movements.
BUA Cement did not declare any interim dividend for the period under review, compared to N67.7bn paid out for the full year ended December 31, 2024.
On the balance sheet side, total assets stood at N1.61tn as of June 30, 2025, representing a 2.5 per cent increase from the N1.57tn recorded as of December 2024. Cash and short-term deposits grew significantly by 83 per cent to N163.4bn from N89.3bn, reflecting enhanced liquidity.
Shareholders’ funds rose to N771.2bn in June 2025, from N590.3bn in December 2024, marking a 30.7 per cent growth, primarily driven by retained earnings from improved profitability.
