BUA Cement Plc has posted a strong financial performance for the first half of 2026, with revenue rising by 25.6 percent to N728.9 billion and profit after tax climbing by 79.6 percent to N324.9 billion.
The company announced the figures in its unaudited financial results released on Thursday
The results showed that revenue increased from N580.3 billion recorded in the corresponding period of 2025 to N728.9 billion in the first six months of 2026.
Profit before tax also surged by 79 percent to N384.4 billion, up from N214.8 billion recorded in the same period last year, while profit after tax rose to N324.9 billion from N180.9 billion.
BUA Cement attributed the strong performance to the expansion of its new market segment, improved cost management, fiscal discipline and a stable foreign exchange environment.
According to the company, the new market segment made a stronger contribution to revenue both on a year-on-year basis and compared with the preceding quarter.
The company also said its cost-control initiatives yielded positive results, reducing direct production cost per tonne by 4.4 percent year-on-year and by 0.6 percent between the first and second quarters of 2026.
Its operating ratio improved significantly, declining to 49.1 percent in the first half of 2026 from 57.9 percent recorded during the same period in 2025.
BUA Cement further reported stronger profitability indicators, with return on assets increasing to 21.4 percent from 15.4 percent, while return on equity rose to 52.4 percent from 37.8 percent.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) margin also improved to 54 percent, compared with 46.3 percent in the corresponding period of 2025.
The company recorded earnings per share of N9.59, up from N5.34 in the first half of last year.
Commenting on the results, the Managing Director and Chief Executive Officer, Yusuf Binji, expressed satisfaction with the company’s performance despite prevailing operational challenges.
“We have delivered a strong quarter despite the constraints encountered,” Binji said.
He noted that the company remained focused on expanding growth opportunities while sustaining cost-containment measures.
“As outlined in my April commentary, our strategic focus is firmly on new growth opportunities and cost-containing measures. I am pleased with the traction of the growth plans and the gains recorded,” he said.
Binji added that BUA Cement would continue to prioritise operational efficiency through process optimisation to boost productivity and strengthen cost management.
“We will continue to prioritise measures aimed at driving operational efficiencies. I expect current process optimisation activities will result in higher productivity and improved cost management, especially with the decisions taken during the quarter. I am very encouraged by our outlook and performance over the next quarters,” he said.
Source: NAN
