BUA Foods Plc (NGX: BUAFOODS) has announced its unaudited financial results for the first quarter of 2025, demonstrating robust growth across key financial indicators.

The company recorded a significant revenue growth of 24 per cent to ₦442.1 billion in Q1 2025, up from ₦356.9 billion in the corresponding period of 2024. This impressive performance was driven by substantial increases in revenue from Flour, which soared 145 per cent to ₦176.2 billion, Pasta rose 12 per cent to ₦41.5 billion, and Rice recorded a remarkable increase of 1617 per cent to ₦13.02 billion. Sugar revenue, however, saw a slight 11 per cent quarter-on-quarter decrease to ₦211.3 billion (Q1 2024: ₦238.2 billion).

BUA Foods also reported a healthy gross profit of ₦160.91 billion in Q1 2025, a 39 per cent increase compared to ₦115.42 billion in Q1 2024. This growth led to an improved gross profit margin of 36.4 per cent, a 406 basis point increase from 32.3 per cent in the prior quarter.

Total operating expenses for the period increased by 56 per cent to ₦22.39 billion (Q1 2024: ₦14.37 billion), due to increases in selling and distribution expenses which rose 13 per cent to ₦11.08 billion driven by logistics costs, and administrative expenses up 147% to ₦11.32 billion.

Despite the increase in operating expenses, BUA Foods achieved a substantial growth of 124% in profit after tax (PAT) to ₦125.28 billion in Q1 2025, compared to ₦55.82 billion in Q1 2024.

Consequently, Earnings per Share (EPS) also saw a significant increase of 125% to ₦6.96 from ₦3.10 in the corresponding period.

The company’s total equities stood strong at ₦554.34 billion as of Q1 2025, representing a 29.2% increase from ₦429.06 billion in FY 2024. This growth was mainly driven by a significant 30 per cent increase in retained earnings.

Commenting on the results, Engr. (Dr.) Ayodele Abioye, the Managing Director, said:

“We are pleased to begin 2025 on a strong note, as our business continued to demonstrate resilience and adaptability amidst a still-evolving macroeconomic landscape. Despite operating in a high-cost environment, our proactive supply chain measures and improved internal efficiencies enabled us to sustain strong operational momentum.”

“Revenue increased by 24%, while Net Profit leaped by 124% to N125Billion further re-affirming our position as a leading food business on the Nigerian Exchange Limited. Our ongoing investments in production capacity, product/package innovation and route-to-market development continue to impact our results positively, enabling fulfilment of customer and consumer demand.”