The consumer goods company BUA Foods reported that its full-year revenue for 2022 increased by 26% to N418.3 billion from N333.2 billion in 2021. Also, it stated that its profit after tax increased by 31% from the prior year for the fiscal year that concluded on December 31, 2022.
Profit after tax jumped to N91.3 billion in its 2022 financial statements, up 31% from N69.7 billion reported for the same period in 2021. The Fast Moving Consumer Goods company said that despite adverse economic conditions, it still held the top spot in the market.
In 2022, its profit before taxes increased by 38% to N107.2 billion. When earnings per share climbed by 20%, other performance measures also improved.
A dividend of N4.50k was proposed for 2022 (2021: N3.50k).Commenting on the results, the Managing Director, Ayodele Abioye, said, “BUA Foods Plc continued to maintain her leading position as the most profitable Foods and FMCG listed company in Nigeria with PBT of N107.2bn, a growth of 38 per cent on prior year.