2024: BUA Food records revenue of N672.39bn in 1st half 

BUA Foods has recorded  revenue of N672.39 billion in the first half of financial year ended June 30, 2024.

The amount represents a growth of  110 per cent  y-o-y from  N320.9 billion achieved in the comparative period of last year.

The growth was due to a y-o-y increase of 88 per cent  in Sugar sales to N369.7 billion from  N196.5 billion in the receding year, 164 er cent increase in Flour sales to N227.9 billion against N86.05 billion in half year 2023 and 95 per cent in Pasta sales to N74.03 billion  from  N37.9 billion reported the same period in 2923.

Profit after tax grew by 38 per cent  to N130.93 billion at the end first half of 2024 operations from  N95.1 billion, while pre tax profit stood at N137.188 billion , representing 25.42 per cent compared with N109.381 billion recorded the comparative period of last year while the Earning per Share (EPS) grew by 37 per cent  to N7.27 in first half of 2024 from N5.29 in the corresponding period. 

Details of the company half year financial result indicated that gross profit up by 64.45 per cent to N218.439 billion from N132.832 billion in the previous year, operating profit also went up by 74.57 per cent from N115.860 billion to N202.262 billion while cost of sales surged from N188.097 billion to N453.954 billion, representing 141.34 per cent.

Total assets rose by 3.3 per cent to N1.106 trillion from N1.070 trillion achieved in the preceding year.