.As BUA Foods grow revenue by 24%, pushes profit to N125bn
COMFORT EKELEME, Business Editor
Access Holdings Plc says it generated N182.75 billion profit after tax for the first quarter of 2025, as against N159.29 billion recorded in the first quarter of 2024.
The group disclosed this in its unaudited financial statement for the period ended March 31, 2025, which was released through the Nigerian Exchange Ltd.
The group also increased its profit before tax from N202.74 billion in 2024 to N222.78 billion in 2025.
However, its total asset declined from N41.498 trillion in 2024 to N30.085 trillion in 2025.
Meanwhile, its earning per share rose from N4.35 in 2024 to N4.88 in 2025.
.As BUA Foods grow revenue by 24%, pushes profit to N125bn
BUA Foods Plc has announced its unaudited financial results for the first quarter of 2025, demonstrating robust growth across key financial indicators.
The company recorded a significant revenue growth of 24 per cent to ₦442.1 billion in Q1 2025, up from ₦356.9 billion in the corresponding period of 2024.
This impressive performance was driven by substantial increases in revenue from Flour, which soared 145 per cent to ₦176.2 billion, Pasta rose 12 per cent to ₦41.5 billion, and Rice recorded a remarkable increase of 1617 per cent to ₦13.02 billion.
Sugar revenue, however, saw a slight 11 per cent quarter-on-quarter decrease to ₦211.3 billion (Q1 2024: ₦238.2 billion).
BUA Foods also reported a healthy gross profit of ₦160.91 billion in Q1 2025, a 39 per cent increase compared to ₦115.42 billion in Q1 2024.
This growth led to an improved gross profit margin of 36.4 per cent, a 406 basis point increase from 32.3 per cent in the prior quarter.
Total operating expenses for the period increased by 56 per cent to ₦22.39 billion (Q1 2024: ₦14.37 billion), due to increases in selling and distribution expenses, which rose 13 per cent to ₦11.08 billion driven by logistics costs, and administrative expenses up 147per cent to ₦11.32 billion.
Despite the increase in operating expenses, BUA Foods achieved a substantial growth of 124per cent in Profit After Tax (PAT) to ₦125.28 billion in Q1 2025, compared to ₦55.82 billion in Q1 2024.
Consequently, Earnings per Share (EPS) also saw a significant increase of 125per cent to ₦6.96 from ₦3.10 in the corresponding period.
The company’s total equities stood strong at ₦554.34 billion as of Q1 2025, representing a 29.2per cent increase from ₦429.06 billion in FY 2024.
This growth was mainly driven by a significant 30 per cent increase in retained earnings.
Commenting on the results, Managing Director of BUA Foods, Engr. Ayodele Abioye said, “We are pleased to begin 2025 on a strong note, as our business continued to demonstrate resilience and adaptability amidst a still-evolving macroeconomic landscape.
“Despite operating in a high-cost environment, our proactive supply chain measures and improved internal efficiencies enabled us to sustain strong operational momentum.
“Revenue increased by 24per cent, while Net Profit leaped by 124per cent to N125 billion further re-affirming our position as a leading food business on the Nigerian Exchange Limited.
“Our ongoing investments in production capacity, product/package innovation and route-to-market development continue to impact our results positively, enabling fulfilment of customer and consumer demand,” he said
Speaking further, he said, “As we look ahead, we remain focused on deepening our market penetration and accelerating innovation to meet changing consumer needs.
“With a stabilizing economy and growing emphasis on food security, we are confident that our unique and integrated business model, strong financial position, and robust execution will continue to enhance our strategic growth and create lasting value for all stakeholders throughout 2025,” he stated.
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