BUA Foods grow profit to N95.2bn in half-year result

BUA Foods Plc, a food and fast-moving consumer goods company has recorded growth in its Profit after tax by 142 percent to N95.2 billion in unaudited results for the half-year ended June 30, 2023.

The firm’s gross profit increased by 155 percent to N132.8 billion in 2023, when compared with N52.1 billion attained same period in 2022

The food company’s Profit before tax increased significantly by 156 percent to N109.4 billion as against N42.7bn recorded a year before while sustaining double digits in profit before tax margin at 34.1 percent from 27.7 percent in a comparable half year.

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However, BUA Foods total liabilities increased slightly by 14.7 percent to N431.7bn in contrast to N376.2 bn in 2022, driven mainly by trade and other payables amidst other contract liabilities.