BUA Cement Plc has reported a strong financial performance for the first quarter of 2026, posting a pre-tax profit of N192.88bn, a significant increase from N99.7bn recorded in the same period of 2025.
According to the company’s unaudited financial statements for the quarter ended March 31, 2026, the growth was largely driven by strong revenue performance and improved finance income.
Quarterly revenue rose to N354.98bn from N288bn in the corresponding period of 2025, representing a 23.37 per cent year-on-year increase.
The company also recorded minimal growth in production costs during the period. Cost of sales increased slightly by 0.67 per cent to N153.08bn from N152.05bn in the same quarter last year.
As a result, gross profit climbed sharply to N201.9bn, reflecting a 45.63 per cent increase compared to the previous year.
Operating profit also surged by 63.19 per cent to N179.51bn, underscoring improved operational efficiency and sustained demand for cement products.
Finance income rose significantly to N11.28bn, representing a jump of more than 636 per cent year-on-year. Meanwhile, finance costs dropped sharply to N161.7m, reflecting a 99.59 per cent decline from the previous year.
Overall, the company’s profit after tax rose to N176bn from N81bn recorded in the first quarter of 2025, while earnings per share increased to N5.21 from N2.40, representing a growth of 117.6 per cent.
A review of the company’s balance sheet showed that total assets stood at N1.39tn as of March 2026, representing a 2.15 per cent increase year-on-year.
However, shareholders’ funds declined slightly by 2.68 per cent to N849.28bn, while retained earnings rose by 38.15 per cent to N638.69bn.
Commenting on the results, the Managing Director of the company, Yusuf Binji, said the strong performance reflects the company’s ongoing transformation and strategic expansion efforts.
“It is encouraging to see our results and organizational transformation aligning so well. Revenue growth remained strong as we continue to meet cement demand, including in the bulk segment,” Binji said.
He added that the company made progress in its business transformation programme during the quarter, including the realignment of its transport department to improve operational efficiency.
While acknowledging that the transition initially posed some operational challenges, he noted that the company had now achieved stability.
Looking ahead, Binji said the company would focus on reducing operating costs through improved monitoring and optimisation while expanding brand penetration into new markets.
On the Nigerian Exchange, shares of BUA Cement traded flat at N317 on April 23, 2026, showing limited immediate reaction to the quarterly results.
However, the stock has delivered strong returns so far this year, rising by 77.6 per cent year-to-date. The rally follows a remarkable 91 per cent gain recorded in 2025.
