BUA Foods Plc has disclosed a financial performance for the six months ended June 30, 2025, with revenue rising to N912.5bn from N672.4bn recorded in the same period last year.
In the company’s unaudited financial statement filed with the Nigerian Exchange Limited on Wednesday, the company’s cost of sales increased to N573.2bn from N454bn in 2024, resulting in a gross profit of N339.3bn, representing a 55 per cent growth compared to the previous year’s N218.4bn.
Operating profit also rose significantly to N284.8bn from N202.3bn in the first half of 2024, supported by controlled administrative expenses, which increased moderately to N19.4bn from N10.1bn. Selling and distribution expenses similarly grew to N35.6bn from N18.4bn.
Finance income stood at N1.1bn for the period, down from N9.2bn recorded in 2024. Finance costs were reduced to N10.2bn from N19.6bn, leading to a net finance cost of N9.1bn compared to a net finance income of N10.4bn the previous year.
The company reported a finance exchange gain of N407m against a loss of N54.7bn last year.
Profit before tax rose sharply to N276.1bn from N137.2bn, nearly doubling year-on-year. After accounting for income tax expenses of N16bn (up from N6.3bn), the net profit after tax stood at N260.1bn, a near 99 per cent increase over the N130.9bn reported in 2024.
Earnings per share also showed marked improvement, rising to 14.45 kobo from 7.27 kobo.
On the balance sheet, total assets increased to N1.33tn from N1.1tn, while total equity strengthened to N689.1bn, up from N429.1bn as of December 31, 2024. Total liabilities fell slightly to N644.1bn from N666.4bn.
The group’s non-current assets, primarily property, plant, and equipment, grew to N434.1bn from N380bn, reflecting ongoing capital investments. Current assets rose substantially to N899.2bn from N715.4bn, supported by an increase in trade receivables and balances due from related companies’ balances.
Inventories reduced to N91.3bn from N118.4bn, while cash and short-term deposits improved to N40.9bn from N31.3bn.
On the liabilities side, non-current liabilities increased to N36.6bn from N33.1bn, with borrowings and deferred tax liabilities being the major components. Current liabilities, including contract liabilities and trade payables, stood at N607.5bn, slightly lower than the N633.4bn recorded at the end of 2024.
