BUA Foods Plc has reported a 101% year-on-year increase in profit before tax, reaching ₦276.1 billion for the half-year ended June 30, 2025, according to its unaudited financial statement filed with the Nigerian Exchange Group on Wednesday. Revenue for the period rose by 36% to ₦912.5 billion, boosted by strong performance across the company’s sugar, flour, pasta, and rice business segments.
Notably, the rice division delivered a staggering 2,923% surge in revenue, rising from ₦1.3 billion in the first half of 2024 to ₦39.3 billion in the same period this year.
Gross profit climbed 55% to ₦339.3 billion, with gross margin improving to 37.2%, up from 32.4% a year earlier. Operating profit rose 41% to ₦284.8 billion, while earnings per share nearly doubled from ₦7.27 to ₦14.45.
The company’s total assets increased by 21.7% to ₦1.33 trillion, while shareholders’ equity surged 60.6% to ₦689.1 billion.
Managing Director Ayodele Abioye attributed the strong performance to BUA Foods’ robust fundamentals and diversified operating model.
“These results reflect our operational efficiency and ability to scale amidst evolving macroeconomic dynamics,” Abioye said. “We remain focused on affordability, innovation, and sustainable value delivery across our product lines.”
Segment highlights showed flour revenue jumping 66% to ₦378.2 billion, sugar growing 8% to ₦398.1 billion, and pasta rising 31% to ₦96.9 billion.
On the balance sheet, liabilities declined by 3.4% to ₦644.1 billion, while retained earnings increased by 62% to ₦681.1 billion.
BUA Foods reaffirmed its commitment to investing in backward integration, technology, and capacity expansion to improve food security and position Nigeria as a key agricultural exporter in West Africa.
