BUA Foods Plc has announced its full year 2024 unaudited financial results, recording a revenue of N1.5 trillion, representing 109.3% increase against the previous year’s N729.4 billion.
Also, Gross Profit grew by 107.9% to N541.71 billion from N260.5 billion in 2023, while Profit After Tax rose by 145.3% to N274.95 billion.
In addition, Earnings Per Share (EPS) increased by 145.3% to N15.27, according to the result.
According to the company, the result showed consistent growth and outstanding performance on all key financial indicators.
The company reported an increase in operating cost by 27.7% to N60.11 billion due to the rise in selling and distribution costs across the supply chain to customers.
This performance was driven by significant growth across key product lines, with sugar sales increasing by 74% to N733.8 billion, flour sales by 172% to N589.5 billion, and pasta sales by 125% to N197.6 billion.
Commenting, the Managing Director of BUA Foods, Engr (Dr) Ayodele Abioye, said the results underscored the company’s ability to navigate challenges with agility and its resilience, as it continues to create value for all stakeholders.
