BUA Cement records 23% increase in profit

Nigeria’s BUA Cement has reported a 23.2 per cent increase in profit after tax to NGN65.91bn (US$160.54m) in the first nine months of the year, compared with NGN53.5bn seen in the 9M20.

Revenue for the period also increased 19.4 per cent YoY to NGN186.9bn from NGN156.5bn.

EBITDA advanced 14.8 per cent YoY in the third quarter of 2021, as the revenue increase accounted for a rise in the cost of sales.