…As cement sales hit N289bn, posts FX gain
BUA Cement Plc has announced a pre-tax profit of ₦115.06 billion for the second quarter ended 30 June 2025, representing a 510.65 per cent surge from ₦18.8 billion recorded in the corresponding period last year.
The stellar performance lifted the company’s half-year pre-tax profit to ₦214.8 billion, sharply up from ₦40.1 billion in the first half of 2024.
Profitability was propelled by the reversal of foreign exchange losses and a marked rise in revenue, which advanced by 42.73 per cent to ₦289.4 billion in Q2 2025. For the half-year period, revenue reached ₦580.3 billion, up 59.45 per cent from ₦363.9 billion a year earlier, driven entirely by cement sales.
Cost of sales inched higher by 2.60 per cent to ₦142.1 billion, reflecting increases in production, energy, and stock movement costs. Even so, gross profit nearly doubled, climbing 129.32 per cent to ₦147.3 billion from ₦64.2 billion.
Selling and distribution expenses rose 65.31 per cent to ₦15.3 billion, yet operating profit surged 160.64 per cent year-on-year to ₦126.3 billion.
Finance costs stood at ₦18.8 billion, largely due to interest payments. Crucially, the company reversed a foreign exchange loss of ₦29.9 billion from Q2 2024, posting a ₦1.6 billion gain this quarter, further enhancing the bottom line.
Total assets expanded to ₦1.6 trillion as of June 2025, up from ₦1.5 trillion at the close of December 2024. Retained earnings more than doubled, jumping 102.96 per cent to ₦356.5 billion, underlining the company’s robust earnings trajectory.
On 25 July 2025, BUA Cement’s share price closed at ₦135 on the Nigerian Exchange, marking a year-to-date gain of 45.16 per cent.