Tuesday, February 7, 2023

BUA Cement generates N74.33bn profit in 9 months

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BUA Cement Plc has posted a profit before tax, PBT, of N74.33 billion for the third quarter ended Sept. 30.

This was contained in the company’s unaudited financial statement released by the Nigerian Exchange, NGX, Ltd on Tuesday.

The result was signed by the company’s Managing Director, Engr. Binji Yusuf and the Chief Financial Officer, Mr Jacques Piekarski.

According to the financial statement, the PBT represented a 25.53 per cent growth compared with N59.21 billion achieved in the corresponding period of 2020.

Also, the company’s profit after tax rose to N65.91 billion from N53.49 billion posted in 2020, representing an increase of 23.22 per cent.

It’s revenue stood at N186.91 billion as against N156.55 billion recorded in the comparative period of 2020, indicating 19.39 per cent increase.

Also, the gross profit increased to N87.25 per cent from N70.26 billion recorded in the comparative period of 2020.

In the same vein, operating profit stood at N75.69 billion from N62.28 billion recorded in the same period of 2020.


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