BUA Cement’s profit surges 117% as Revenue hits N355bn in strong Q1 showing

BUA Cement Plc has reported a robust financial performance for the first quarter of 2026, with revenue rising by 22.1 per cent to N355 billion, up from N290.8 billion recorded in the same period of 2025.

The company’s unaudited results also showed a sharp increase in profitability, as profit before tax jumped by 93.2 per cent to N192.7 billion, while profit after tax surged by 117.4 per cent to N176.4 billion from N81.1 billion in the corresponding period last year.

The strong performance was largely driven by improved cost efficiency, increased interest income and gains from foreign exchange movements, reflecting the impact of earlier strategic adjustments by management.

Despite prevailing macroeconomic pressures, including global energy shocks, total costs rose marginally by just 1.9 per cent to N175.8 billion, staying below the inflation rate. The company also recorded a decline in direct cost per tonne for the second consecutive year, reinforcing its cost control measures.

Key profitability indicators improved significantly, with gross profit margin climbing to 56.9 per cent and EBITDA margin rising to 53.9 per cent. Earnings per share increased to N5.21 from N2.40, while return on equity stood at 23.2 per cent, up from 18.9 per cent in 2025.

Commenting on the results, the Managing Director, Yusuf Binji, said the company’s ongoing transformation and strategic realignment are beginning to yield tangible results.

“It is encouraging to see our results and organisational transformation aligning so well. Revenue growth remained strong as we continue to meet cement demand, including in the bulk segment,” he said.

Binji added that the company has achieved operational stability following recent restructuring efforts and expects the full benefits of its strategy to reflect in its bottom line over the course of the year.

Looking ahead, he noted that BUA Cement will focus on further reducing operating costs, optimising efficiency and expanding its market presence, particularly in new and emerging segments.