BUA Foods hits ₦276.1bn, posts 101% profit growth in H1 2025

BUA Foods Plc has posted a 101% year-on-year growth in profit before tax, reaching ₦276.1bn for the half-year ended June 30, 2025.

According to the company’s unaudited financial results filed with the Nigerian Exchange Group on Wednesday, revenue rose by 36% to ₦912.5bn, driven by strong performance across its sugar, flour, pasta, and rice segments.

The rice division in particular saw a remarkable 2923% surge in revenue, growing from ₦1.3bn in H1 2024 to ₦39.3bn in the same period this year.

Gross profit increased by 55% to ₦339.3bn, with gross margin rising to 37.2% from 32.4% the previous year.

Operating profit also grew by 41% to ₦284.8bn, while earnings per share nearly doubled from ₦7.27 to ₦14.45.

The company’s total assets hit ₦1.33tn, up 21.7%, and equity rose by 60.6% to ₦689.1bn.

Speaking on the performance, Managing Director of BUA Foods, Ayodele Abioye, said the results underscore the company’s resilience and long-term growth strategy.

He said, “The results reflect our strong fundamentals, operational efficiency, and the resilience of our diversified business model.

“Amidst evolving macroeconomic dynamics, we remain focused on scale, affordability, and consistent value delivery to our customers and stakeholders.

“Our investments in backward integration and manufacturing expansion continue to position us for long-term sustainable growth.”

A breakdown of the segment performance showed that the flour division recorded ₦378.2bn in revenue, up by 66%, while the sugar business brought in ₦398.1bn, an 8% increase. Revenue from pasta rose by 31% to ₦96.9bn.

On the balance sheet side, the company reported ₦644.1bn in liabilities, down 3.4% from the previous year. Retained earnings increased by 62% to ₦681.1bn.

BUA Foods said it remains committed to investing across its integrated supply chain and leveraging technology and innovation to boost food security and export capacity across West Africa.