BUA Foods Achieves N450bn Profit Amid Revenue Drop

BUA Foods Plc (NGX: BUAFOODS) recorded a profit after tax of N450.47bn for the first nine months of 2026, marking an 11.15% increase from N405.27bn in the same period of 2025, despite a 19% decline in revenue to N1.15tn from approximately N1.42tn. The company attributed this improved profitability to lower production costs, reduced operating expenses, and a more stable foreign exchange environment.

Gross profit increased by 6.19% to N552.90bn, driven by a 34% reduction in the cost of sales, which fell to N592.94bn. The gross profit margin expanded to 48.3% from 36.7% in the previous year.

Operating expenses decreased by 20% to N66.99bn, contributing to an improved operating profit margin of 43%. Profit before tax rose by 11% to N480.52bn, and earnings per share increased to N25.03 from N22.52.

Ayodele Abioye, Managing Director of BUA Foods, indicated that the company would continue investing in distribution capabilities to support future growth.