BUA Foods 9M 2026 Results: Profit After Tax Rises 11%

BUA Foods Plc released its unaudited 9M 2026 financial results, covering the nine months ended 30 September 2026. Revenue fell 19% year-on-year to ₦1.15 trillion, from ₦1.42 trillion in 9M 2025. The company attributed the decline to lower revenue across its Sugar, Flour, and Rice segments. Sugar revenue dropped 17% to ₦495.1 billion, Flour fell 30% to ₦415.1 billion, and Rice declined 53% to ₦37.5 billion.

Despite lower revenue, gross profit rose 6% to ₦552.90 billion, with gross profit margin expanding by 1,160 basis points to 48.3%. Cost of sales declined 34% to ₦592.94 billion, driven by lower raw material costs, reduced energy costs, and exchange rate stability. Total operating expenses fell 20% to ₦66.99 billion.

Operating profit grew 13% to ₦492.50 billion, with operating profit margin expanding 1,200 basis points to 43%. Net finance costs rose 146% to ₦11.98 billion. Profit Before Tax increased 11% to ₦480.52 billion, and Profit After Tax reached ₦450.47 billion. Earnings per share rose 11% to ₦25.03. Return on Equity stood at 68%, up from 57% in 9M 2025. Total assets declined 2% to ₦1.36 trillion.