April 24, (THEWILL) — BUA Cement Plc has reported a strong start to 2026, posting a pre-tax profit of ₦192.88 billion for the first quarter ended March 31, more than double the ₦99.7 billion recorded in the same period last year.
The impressive performance was driven by robust revenue growth and a sharp rise in interest income. Quarterly revenue climbed 23.4 percent year-on-year to ₦354.98 billion, supported largely by sustained demand for bagged cement, which contributed over 95 percent of total sales.
Despite higher production volumes, the cost of sales remained relatively flat, rising just 0.67 percent to ₦153.08 billion. This cost discipline, aided by lower energy expenses and reduced maintenance charges, boosted gross profit by 45.6 percent to ₦201.9 billion.
Operating profit rose 63.2 percent to ₦179.5 billion, translating to a margin exceeding 50 percent, even as administrative and distribution expenses stayed elevated at ₦23 billion.
A standout contributor to earnings was finance income, which surged over sixfold to ₦11.28 billion, driven by higher interest earnings. Combined with a significant drop in finance costs, the company recorded a net finance income position, a major turnaround from the previous year.
Profit after tax rose to N176 billion, while earnings per share jumped to ₦5.21.
The Managing Director, Yusuf Binji, said the results reflect strong execution and ongoing transformation efforts. He added that the company will focus on cost optimisation and expanding into new markets in the coming quarters.
BUA Cement shares remained flat at ₦317 as of April 23, though the stock is up 77.6 percent year-to-date.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
