BUA Cement has kicked off its 2026 fiscal year with a powerhouse performance, reporting a 22.1 per cent revenue jump to NGN355bn (US$2.6bn) for the first quarter. The company’s bottom line saw even more dramatic growth, with profit after tax skyrocketing 117.4 per cent to NGN176.4bn, up from NGN81.1bn in the same period last year.

This financial surge was fuelled by a mix of strategic cost-cutting and savvy financial management. Despite global energy spikes and geopolitical tension, BUA managed to lower its direct cost per tonne for the second year running. By keeping total expenditure growth at a marginal 1.9 per cent—well below the national inflation rate—the company successfully widened its margins, with EBITDA hitting 53.9 per cent.

Managing Director Yusuf Binji attributed the success to a massive organisational transformation, specifically highlighting the realignment of the Transport Department. While the transition faced initial hurdles, Binji confirmed that operational stability has been reached, allowing the company to better meet rising demand in the bulk cement segment.

The quarter also benefited from strong interest income and foreign exchange gains, pushing earnings per share to N5.21. Looking ahead, BUA plans to double down on this momentum by optimising operating costs and aggressively expanding its brand presence into new markets. With a Return on Equity now sitting at 23.2 per cent, the company appears well-positioned to sustain this profitability throughout the fiscal year.

Advertisement