BUA Cement H1 Profit Soars 80% to ₦324.9bn on Cost Discipline and New Markets

BUA Cement posted an 80% rise in half-year profit to ₦324.9bn. This strong result stemmed from strict cost control and expansion into new markets. The company recorded a net foreign exchange gain of ₦16.57bn, reversing last year’s loss and cutting net finance costs to ₦3.41bn while finance income jumped to ₦18.73bn. Operating cash flow reached ₦278.45bn despite dividend payments and significant capex of ₦60.67bn on property, plant and equipment. Assets in production rose to ₦1.22trn with ₦183.86bn in projects under construction. BUA Cement plans to boost capacity from 17 to 20 million tonnes annually with a greenfield plant in Ososo, Edo State. MD Yusuf Binji said the firm’s growth initiatives and cost-discipline programmes will drive further productivity and stronger results in coming quarters.

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