BUA Cement’s profit rose 2.21% to N88bn in 6 months

BUA Cement Plc has recorded a net profit of N88.73 billion in its audited financials for June 2022. The profit represents 2.21 per cent over the N86.81bn attained a year before.

The cement production company also posted N591.80bn in its gross earnings, translating to 31.42 per cent over N450.30bn in 2021. Profit Before Tax inched by 0.42 per cent to stand at N97.80bn as against the N97.37bn recorded in 2021.

Its audited financials further showed that BUA Cement’s total assets aced 12.51 per cent to N13.19bn in contrast to N11.73bn earlier reported, profit attributable to owners recorded 1.52 marginal growth from N85.98m to N87.29m for the period under review.

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However, its shares outstanding declined to 34,611m from 34,719m shares in 2021, while total liabilities rose by 13.53 per cent to N12.127bn from N10.681bn posted a year before.

At the close of transactions on Monday, investors on the Nigerian Exchange (NGX) traded 123,440m shares in 40 deals at N99.45 per share. Its total market capitalisation stood at N3.36trn.