BUA Cement Plc, on Thursday presented its unaudited financials for the half-year ended June 30, 2026, quick highlights of which showed a very good first half for the company with net profit jumping by 79.59%, significantly outpacing the 25.61% revenue growth despite a 75.64% rise in corporate income and deferred taxes during the period under review. The company was also able to rein in on its costs as demonstrated by the marginal 2.7% increase in cost of sales, just as net finance cost dropped to N3.408bn from N31.373bn and net exchange gain to N16.574bn, compared to previous half-year’s N782.823m.
According to the result presented through the Nigerian Exchange portal, BUA Cement reported a total revenue of N728.925bn, compared to N580.303bn in 2025, with cost of sales rising to N301.892bn from N293.944bn, leaving a gross profit of N427.033bn, up from N286.359bn.
Other income fell to N509.703m from N1.057bn, selling and distribution costs rose 35.65% from N29.814bn to N40.446bn; administrative expenses closed at N15.825n from N12.208bn; resulting in operating profit of N371.271bn, up from N245.393bn.
Finance income rose to N18.73bn from N6.764bn, just as finance costs stood at N22.138bn, down from N38.137bn, resulting in net finance cost dropped to N3.408bn from N31.373bn; net exchange gain leaped to N16.574bn from N782.823m; following which profit before tax soared to N384.437bn from N214.803bn. Income and deferred tax rose from N33.907bn to N59.559bn, resulting profit after tax of N324.878bn from N180.895bn, resulting in earnings per share of N959.35, up from N534.18 each.
The result, according to a statement by the company, reflects the relatively more stable exchange rate environment that has followed the sharp currency adjustments experienced over the previous two years.
The improvement, it said, helped reduce overall net finance costs to just N3.41 billion, compared with N31.37 billion in the corresponding period of 2025, despite the company continuing to carry substantial borrowings. Finance income also increased sharply to N18.73 billion, supported by higher interest earned on cash balances.
BUA Cement continued to generate significant operating cash flows despite paying substantial dividends and investing heavily in capacity expansion.
According to the earning note, BUA Cement says it is progressing with plans to expand installed production capacity from 17 million metric tonnes per annum to 20 million metric tons, including the construction of a greenfield cement plant in Ososo, Edo State.
The statement quoted, Yusuf Binji, its managing director and chief executive officer, as saying the company remained focused on capturing new growth opportunities while maintaining cost discipline.
“We have delivered a strong quarter despite the constraints encountered,” Binji said, noting that the company’s growth initiatives and cost optimisation programmes were gaining traction and expressed confidence that ongoing process improvements would deliver higher productivity and better cost management in the coming quarters.
“I am very encouraged by our outlook and performance over the next quarters,” he added.
