BUA Food Plc Reports N154 Billion Profit in Q1 2026

BUA Food Plc's unaudited financial statement for Q1 2026, filed with the Nigerian Exchange, reveals a profit after tax of N153.757 billion, marking a 12.74% increase from N136.388 billion in Q1 2025. This growth was primarily attributed to a significant reduction in operational finance costs, despite a revenue decline of 11% year-on-year to N394.62 billion, with zero foreign exchange gains compared to N486 million recorded in Q1 2025.

The revenue decline was largely driven by decreased sales in sugar and flour products. The cost of sales also fell by 22% year-on-year to N219 billion, resulting in a gross profit of N176 billion, up from N161 billion in the previous year.

After accounting for an income tax expense of N11.4 billion, the profit after tax settled at N142 billion, with earnings per share increasing to N7.91 from N6.96. The balance sheet showed total assets grew by 12% to N1.55 trillion, with trade receivables as the largest asset class at N947 billion.