BUA Foods Reports N480.52 Billion Profit Amid Cost Cuts

BUA Foods Plc reported a pre-tax profit of N480.52 billion for the nine months ended September 2026, marking an 11.08% increase from N432.58 billion in the same period the previous year. The third-quarter pre-tax profit was N165.64 billion, up 2.80% from N161.12 billion in Q2 2026 and up 5.86% from N156.47 billion in Q3 2025.

Managing Director Ayodele Abioye attributed the revenue decline to softer pricing and subdued consumer demand. However, cost optimisation, improved productivity, and operational discipline supported profitability.

Earnings growth was primarily due to improved margins, with pasta revenue increasing by 32% to N198.1 billion. Operating expenses fell by 20% to N66.99 billion, aided by lower logistics and administrative costs.

Other income rose to N6.59 billion from N587.40 million. Conversely, net finance costs surged by 146% to N11.98 billion, with gross finance costs increasing to N12.96 billion.

BUA Foods' share price remained unchanged at N706.60, trading at 27.6 times earnings with a market capitalisation of N13.69 trillion.