BUA Foods Plc has announced a remarkable 145.3% increase in profit after tax, reaching N274.95 billion for the fiscal year 2024. The company’s gross profit also saw a substantial rise, up by 107.9% to N541.71 billion, underscoring its operational efficiency. Revenue for the year climbed 109.3% to N1.53 trillion, a significant leap from N729.4 billion in 2023, showcasing the company’s strong market position and growth.
In addition to overall revenue growth, the company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) rose by 131.5% to N499.4 billion, reflecting its strong cash flow generation capacity. The surge in earnings highlights BUA Foods’ ability to thrive even in a competitive market.
The company’s product performance was exceptional, with sugar sales increasing by 74% to N733.8 billion, flour sales growing by 172% to N589.5 billion, and pasta sales rising by 125% to N197.6 billion. These results demonstrate the company’s diversified product portfolio and its ability to capture demand across various sectors.
BUA Foods’ earnings per share also surged by 145.3% to N15.27, a key indicator of its solid financial health. The company’s strong performance was attributed to its focus on innovation, efficiency, and market expansion, ensuring its ability to meet growing market demand.
Looking ahead, the company remains committed to sustainable growth and strengthening its leadership in the food sector. Founder and Chairman, Abdul Rabiu, emphasized that the company’s success is rooted in its long-term vision of ensuring food security in Africa, with ongoing investments in capacity expansion and supply chain optimization.
Source: punch