BUA Foods lifts nine-month profit to ₦450bn even as sales fall
Cutting raw material costs by more than a third pushed margins up, while turnover fell to ₦1.15 trillion.
Lagos — BUA Foods, the Nigerian maker of sugar, pasta and edible oils, raised its nine-month profit after tax 11.2% to ₦450.5 billion, from ₦405.3 billion a year earlier, its unaudited results show.
Revenue fell 19% to ₦1.15 trillion on softer prices and weak consumer demand, with bakery flour and fortified sugar sales down. But raw material spending fell 37.2%, administrative costs dropped by more than a quarter and selling and distribution costs fell 15.4%.
The EBITDA margin jumped to 43.6% from 31.3%.
"We maintained a substantial improvement in profitability through effective cost optimisation, improved productivity, and rigorous execution," said chief executive Ayodele Abioye. The company, majority-owned by Abdulsamad Rabiu, has a market value of ₦13.7 trillion.
Source: Premium Times, 30 October 2026.
