By Kanayo John
BUA Cement Plc on Tuesday, 26 July 2022 released its unaudited financial statements for the six months ended 30 June (6M ‘22) 2022 to the market.
A close analysis of the results showed that both Revenue (top-line) and Net Income (bottom-line) went up by 51.7% and 41.4% to settle at ₦188.56 billion and ₦61.37 billion respectively, compared to numbers achieved in 6M ‘21. The growth in the top-line was well driven by sales registered in the Nigeria market which contributed 99.3% (2021: 99.1%) to the total Revenue.
Although major cost heads were up compared to 6M ‘22 numbers, however, the improved top-line growth helped push up Operating Profit by over 50.0% growth rate, as can be seen in the table above. After adjustment for tax liability (inclusive of income and deferred taxes) which was up by 114.6% y/y, profit after tax (PAT) rose by 41.4% to settled at ₦61.37 billion. At this income level, earnings per share (EPS) of 181 kobo was achieved, 41.4% higher than 128kobo achieved in 6M-2021.
Kindly see the above table for detailed highlights.
- Kanayo is of Imperial Assets Limited