BUA Foods Plc recorded a Profit After Tax (PAT) of N292.27 billion for the six months ended June 30, 2026, reflecting a 12 per cent increase from the N260.1 billion posted during the same period in 2025.
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‎The company announced the performance in its unaudited half-year financial results released on Thursday in Lagos.
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‎Its Profit Before Tax (PBT) rose by 14 per cent to N314.9 billion from N276.8 billion a year earlier, while Operating Profit climbed 13 per cent to N320.5 billion.
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‎Despite the improved earnings, revenue fell by 16 per cent to N765.12 billion, down from N912.51 billion recorded in the first half of 2025.
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‎BUA Foods attributed the drop in revenue to moderated pricing across its major product lines in response to inflationary conditions. However, it noted that stronger operational efficiency, reduced operating expenses and lower finance costs helped drive higher profitability.
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‎Gross Profit increased by seven per cent to N363.23 billion, with the Gross Profit Margin improving significantly to 47.5 per cent from 37.2 per cent in the corresponding period of last year.
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‎Similarly, the Operating Profit Margin rose to 42 per cent from 31 per cent, reflecting improved cost discipline and more efficient operations.
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‎The company also strengthened its financial position during the period, as Total Assets grew by 20 per cent to N1.67 trillion, while Total Equity surged by 41 per cent to N1.01 trillion.
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‎According to the company, the stronger balance sheet will provide support for its long-term expansion plans.
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‎BUA Foods said it is executing one of its biggest investment programmes, which includes expanding wheat milling capacity, completing its edible oils business, launching noodles into its product range and further integrating its manufacturing operations.
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‎It added that the projects are expected to increase local food production and support Nigeria’s food security efforts.
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‎The company reaffirmed its commitment to investing in production capacity, innovation, market expansion and operational efficiency to sustain long-term growth and reinforce its position in Africa’s food manufacturing sector.
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‎Speaking on the results, the Managing Director of BUA Foods Plc, Ayodele Abioye, said the company remained resilient despite operating in a challenging business environment.
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‎He said improved cost control, better supply chain management and a more efficient product mix contributed to the strong financial performance.
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‎Abioye noted that although revenue declined by 16 per cent, the company successfully improved its margins and recorded double-digit growth across key financial indicators.
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‎He added that BUA Foods would focus on translating its operational improvements into higher sales volumes in the second half of the year while maintaining profitability, expanding market share and delivering sustainable value to shareholders.