BUA Cement shows 21% surge in revenue

BUA Cement shows 21% surge in revenue
30 October 2020

Nigeria’s BUA Cement has shown 21 per cent growth in revenue for the first nine months of 2020, rising to NGN156.55bn (US$412.05m) from NGN129.43bn in the 9M19. Profit after tax also advanced 24 per cent YoY from NGN43.25bn to NGN53.57bn.

"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 focused distribution strategy," said Yusuf Binji, managing director.

In the 3Q20, the company saw revenue rise 40 per cent YoY to NGN55.29bn from NGN39.57bn while profit after tax improved 48.3 per cent to NGN18.75bn.

Published under Cement News