Despite external volatilities, BUA Foods Plc has announced its unaudited financial results for the first quarter 2026 (Q1’26) showing improved margins, moderate earnings growth, underpinned by resilient operational performance.

The Profit After Tax increased by 14% to ₦142.32 billion, compared to ₦125.28 billion in the corresponding period of 2025 (Q1’25), reflecting the Company’s continued focus on cost discipline, operational efficiency, and value-driven execution.

However, due to moderated pricing following easing inflationary pressures and a more stable foreign exchange environment, revenue for the period stood at ₦394.6 billion, a decline of 11% from ₦442.1 billion in the corresponding period of 2025.

Gross profit rose by 9% to ₦175.65 billion, primarily driven by a reduction in input cost and improved efficiency across all business divisions. Operating profit grew by 11% to ₦154.6 billion in 3M 2026 (3M 2025: ₦138.9 billion) benefiting from reduced costs of sales.

Earnings per share increased by 14% to ₦7.91, reinforcing continued value creation for shareholders.
The company’s total assets increased by 12% to ₦1.555 trillion as of Q1’26 as against ₦1.387 trillion recorded as of full year ended 2025, driven by capacity expansion.

Performance across key product segments reflected evolving consumer demand and strategic portfolio positioning.

Flour segment contributed 35% to revenue in Q1’26 as against 40% in Q1’25 while Sugar contributed 43% as against 48% in Q1’25.

The decline in the contributions from these key segments, according to the company, was due to an alignment with strategic and competitive market pricing initiatives during the period under review.
On the other hand Pasta and Rice segments grew their contributions with Pasta contributing 18% to revenue, up from 9% while its revenue increased by 70% to ₦70.6 billion in Q1’26. The company explained that the increase in Pasta sales volume was due to high demand for the product.

Contribution to revenue from rice rose to 4% in Q1’26, from 3% in Q1’25 as the segment’s revenue increased to ₦14.9 billion in Q1’26 from N13.02 billion, due to steady milling operations in the division.
Commenting on the results, Managing Director, Engr. Ayodele Abioye, said:
“BUA Foods delivered resilient earnings in Q1 2026, underpinned by strong margin performance despite a challenging operating environment. Profit After Tax increased by 14% year-on-year to ₦142.32 billion, notwithstanding an 11% decline in revenue and modest volume growth. The EBITDA rose by 11% to ₦157.13 billion, reflecting effective cost containment, pricing discipline, and sustained margin expansion across core product portfolios’’.

On the outlook, he stated: ‘‘Looking ahead, while geopolitical risks continue to impact energy markets and global supply chains, the business remains well positioned for growth. Supported by a resilient operating model and disciplined execution, BUA Foods is focused on delivering sustainable, longterm value for investors, shareholders, and other stakeholders”.

According to him, BUA Foods remains well-positioned to navigate prevailing economic conditions, leveraging its scale, integrated operations, and strong market positioning to sustain profitability.