BUA Cement records 13% revenue increase in 1H20

Nigeria’s BUA Cement has announced a 12.7 per cent YoY increase in revenue to NGN101.3bn (US$261.07m) in the first half of 2020, with profit after tax also advancing 13.7 per cent YoY to NGN34.82bn.

The company’s EBITDA margin also improved to 48.1 per cent in the 2Q20, compared to 45.6 per cent in the first quarter.

"Despite the prevailing economic conditions, we are quite optimistic about the future because it affords us not only with the opportunity to further evolve our business model but also provides an opportunity for accelerated development. We will continue to push to new markets aided by a focussed distribution strategy," said Yusuf Binji, managing director.