BUA Foods Reports N292bn Profit Despite Revenue Drop

BUA Foods Plc announced a profit after tax of N292.27bn for the first half of 2026, marking a 12% increase from N260.10bn in the same period of 2025. Profit before tax rose by 14% to N314.90bn, while operating profit increased by 13% to N320.50bn.

Despite these gains, the company experienced a 16% decline in revenue, which fell to N765.12bn from N912.51bn in H1 2025. The decline in revenue was attributed to moderated pricing across major product categories amid inflationary pressures.

However, BUA Foods managed to enhance profitability through improved supply chain execution, reduced operating expenses, and lower finance costs. Managing Director Ayodele Abioye stated that the company's performance demonstrated resilience in a challenging environment, focusing on effective cost management and operational excellence.

Looking forward, BUA Foods aims to convert operational improvements into higher sales volumes in the second half of the year.