BUA Foods Profit Up 11% to N450bn Despite 19% Drop in Revenue

BUA Foods Profit Up 11% to N450bn Despite 19% Drop in Revenue

BUA Foods Plc recorded an 11 per cent increase in profit after tax to N450.47bn in the nine months ended September 30, 2026, up from N405.27bn in the same period of 2025.

Profit before tax also rose 11 per cent to N480.52bn, despite a 19 per cent decline in revenue to N1.15tn, its unaudited financial results showed.

The Managing Director, Ayodele Abioye, attributed the revenue drop to softer pricing and subdued consumer demand, but said profitability was supported by cost optimisation and improved productivity.

Gross profit rose to N552.90bn from N520.65bn, with gross margin expanding to 48.3 per cent from 36.7 per cent.

Total operating expenses fell 20 per cent to N66.99bn from N83.65bn. Selling and distribution expenses declined 15 per cent to N45.04bn, while administrative expenses dropped 28 per cent to N21.95bn.

Operating profit margin increased to 43 per cent from 31 per cent, and earnings per share rose 11 per cent to N25.03 from N22.52.

Abioye said the company would continue to invest in its distribution network and expand market reach, noting that brand strength and route-to-market capabilities provide a solid foundation for future growth.