BUA Foods Plc has reported a profit before tax of N153.757 billion for Q1 2026, according to its recently filed unaudited financial statements on the Nigerian Exchange.
This reflects a 12.74% year-on-year increase from N136.388 billion in Q1 2025, driven largely by a reduction in operating and finance cost.
This is despite the drop in revenue and zero foreign exchange gain.
Revenue declined by 11% YoY to N394.62 billion, while foreign exchange gain was zero compared to the N486 million recorded in Q1 2025
On the income statement, Q1 2026 revenue of N394.62 billion was driven primarily by sugar and flour sales. However, the decline in sales of these products contributed to the overall decline in revenue.
Reflecting the decline in revenue, the cost of sales declined by 22% YoY to N219 billion resulting in gross profit of N176 billion, compared to N161 billion recorded in the prior year.
Following an income tax expense of N11.4 billion, profit after tax settled at N142 billion, up from N125.28 billion, with earnings per share increasing to N7.91 from N6.96.
On the balance sheet, total assets grew by 12% to N1.55 trillion, with trade and other receivables standing as the largest asset class at N947 billion.
Total liabilities increased to N699.92 billion from N674 billion, with borrowing of N362 billion representing the largest share of the company’s obligations.
On the equity side, retained earnings rose to N847.7 billion from N705 billion, supporting total equity of N855.761 billion from N713.44 billion as of December 2025.
Year-to-date, the stock has gained 21% to N967 per unit, with market capitalization of N17.4 trillion, raking the 2nd most capitalized stock on the NGX.
