BUA Foods Plc, a leading Nigerian consumer goods company with operations impacting regions like Rivers State, announced a 101% profit before tax increase to 276.1 billion naira ($172 million) for the first half of 2025. The unaudited financial results, submitted to the Nigerian Exchange Limited on Wednesday, showcased robust sales growth across its product lines, reinforcing its role in supporting food security nationwide.
Revenue soared 36% to 912.5 billion naira, driven by strong performances in flour, sugar, pasta, and rice. The rice division, which benefits communities in Rivers State through local supply chains, skyrocketed 2,923% from 1.3 billion naira to 39.3 billion naira. Flour revenue grew 66% to 378.2 billion naira, pasta rose 31% to 96.9 billion naira, and sugar, a staple in households across Nigeria, increased 8% to 398.1 billion naira. These gains highlight BUA Foods’ ability to meet rising demand in markets like Port Harcourt.
Gross profit climbed 55% to 339.3 billion naira, with the gross margin rising to 37.2% from 32.4%. Operating profit grew 41% to 284.8 billion naira, reflecting improved cost efficiencies. Earnings per share nearly doubled to 14.45 naira, boosting shareholder confidence. The company’s total assets reached 1.14 trillion naira, underscoring its financial strength.
Also Read: ADC Condemns Fresh $21bn Loan as ‘Fiscal Disaster’, Demands Audit
Ayodele Abioye, managing director, credited the success to strategic investments, including backwards integration that supports local farmers. These efforts ensure affordable products while fostering economic growth in Nigeria’s southern regions. BUA Foods’ focus on expanding rice and flour production capacity aims to enhance food availability nationwide.
Despite inflationary pressures, BUA Foods maintained operational resilience, benefiting consumers in urban centres like Rivers State’s capital. The company plans to grow its West African export market, potentially creating more opportunities for local suppliers. As BUA Foods navigates economic challenges, its strong fundamentals continue to drive optimism among investors, with its impact felt in communities across Nigeria, including those in the Niger Delta.
