BUA Foods Plc has announced its unaudited financial statements for the third quarter that ended on September 30, 2022.
The financial report showed a profit after tax of N30.045 billion, a 65.18% increase year-on-year compared to N18.189 billion in Q3 2021.
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The report also showed that turnover increased by 39.25% to N120.467 billion from N86.509 billion as of Q3 2021.
Profit before tax increased by 60.83% to N31.880 billion from N19.821 billion as of Q3 ‘2021. In the same vein, profit after tax jumped to N30 billion up from N18.1 billion during the comparable period in 2021.
A closer look at the report showed that the company’s revenue was driven by a significant jump in revenue from sales of sugar and baking flour.
Earnings per Share (EPS) were up 65.34% to 167 kobo from 101 Kobo as of Q3 ‘2021.
The cost of sales rose by 32.43% to N79.393 billion from N59.949 billion in 2021. The increase was due to the high costs of energy and raw materials imports with its attendant foreign exchange burden that has remained a militating factor for the less-than-sterling performance of manufacturers.
