BUA Cement Plc has reported a 22.1 per cent increase in revenue to N355 billion in its first quarter (Q1) 2026 unaudited financial statements.
The Company’s Q1 results showed that revenue grew 22.1 per cent to N355 billion from N290.8 billion in the corresponding quarter ended March 2025.
Profit before tax increased by 93.2 per cent to N192.7 billion from N99.7 billion, while profit after tax up by 117.4 per cent to N176.4 billion as against N81.1 billion in 2025.
The result was driven by cost efficiency, reflecting the outcome of Management’s earlier strategic alignment, and supported by strong interest income growth and foreign exchange gains. Direct cost per tonne declined for the second consecutive year, down 2.1% year-on-year, underscoring sustained cost control and operational efficiency.
Total cost, including selling, distribution, and administrative expenses, rose marginally by 1.9 per cent to N175.8 billion from N172.5 billion in Q1 2025, remaining below the average inflation rate for the period despite global energy shocks arising from geopolitical tensions.
Specifically, gross profit and EBITDA margin rose by 9.2 per cent and nine per cent points, respectively to 56.9 per cent and 53.9 per cent. Furthermore, the Company reported an earnings per share of N5.21 compared to N2.40 in 2025, along with a return of equity of 23.2 per cent higher than 18.9 per cent.
Speaking on the results release, the managing director, BUA Cement, Yusuf Binji said, “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. We also progressed our business transformation programme during the quarter, including the realignment of the Transport Department for greater effectiveness.
“While the transition presented some challenges, we have now achieved operational stability. Following the strategic alignment initiated mid-last year, we expect the benefits to be fully reflected in our bottom line this fiscal year and sustained thereafter. Considering the current geopolitical environment, our cost reduction initiatives have proven timely, safeguarding our profitability and reinforcing operational agility.”
He added that “over the coming quarters, our focus will be on further reducing operating costs through optimisation and enhanced monitoring, while increasing brand penetration, particularly within what we define as ‘new markets’.”
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