BUA Foods’ profit rises 11% to N450.47bn in 9 months – Daily Trust

BUA Foods Plc recorded an 11 per cent increase in profit after tax to N450.47bn in the nine months ended September 30, 2026.

The company’s unaudited financial results showed that profit after tax rose from N405.27bn recorded in the corresponding period of 2025, while profit before tax increased by 11 per cent to N480.52bn.

Revenue, however, fell by 19 per cent to N1.15tn during the period.

The Managing Director of BUA Foods, Ayodele Abioye, attributed the decline in revenue to lower prices and reduced consumer demand, but said cost management and improved productivity supported the increase in profitability.

“Despite a 19 per cent decline in revenue to N1.15tn, driven by softer pricing conditions and subdued consumer demand, we maintained a substantial improvement in profitability through effective cost optimisation, improved productivity and rigorous execution across the business,” he said.

Gross profit increased to N552.90bn from N520.65bn in the corresponding period of 2025, while gross profit margin expanded to 48.3 per cent from 36.7 per cent.

The company also reported a 20 per cent reduction in total operating expenses to N66.99bn from N83.65bn.

Selling and distribution expenses fell by 15 per cent to N45.04bn, while administrative expenses declined by 28 per cent to N21.95bn.

Operating profit margin increased to 43 per cent from 31 per cent, while earnings per share rose by 11 per cent to N25.03 from N22.52 in the corresponding period of 2025.

Abioye said the company would continue to invest in its distribution network and expand its market reach.

“The sustained strength of our brands and our continued investment in route-to-market capabilities provide a solid foundation for future growth,” he added.

He said the company remained focused on driving profitable growth, enhancing market penetration and maintaining operational efficiency.