BUA Cement Plc recorded a profit after tax of N176.38 billion for the quarter ended March 31, 2026, more than double the N81.12 billion posted in the same period of 2025. Revenue increased to N354.98 billion from N290.82 billion, driven by bagged cement sales of N340.58 billion and bulk cement sales of N14.40 billion. Market data indicates BUA Cement's price per 50kg bag in Nigeria ranged between N10,000 and N11,000 during the period, reflecting an industry-wide price increase of approximately 30 percent in 2026.
Cost of sales rose slightly to N153.08 billion from N152.07 billion, with energy consumption accounting for N67.34 billion, materials for N27.31 billion, and operations and maintenance services for N31.41 billion. Gross profit climbed to N201.90 billion from N138.75 billion, while operating profit increased to N179.51 billion from N119.04 billion. Selling and distribution costs were N15.44 billion, with administrative expenses at N7.27 billion. Finance income rose to N11.28 billion from N1.53 billion, while finance costs dropped to N11.12 billion from N19.32 billion.
Net foreign exchange gain was N13.01 billion, compared to a loss of N836.81 million in 2025, contributing to a profit before tax of N192.68 billion. Total assets reached N1.99 trillion, up from N1.58 trillion, with equity rising to N849.28 billion from N469 billion, driven by retained earnings of N638.69 billion. Net cash from operating activities more than doubled to N180.00 billion. Cash and cash equivalents stood at N404.05 billion, up from N138 billion. Yusuf Binji, managing director, attributed the performance to cost efficiency, strategic alignment, and strong interest income growth.
Yusuf Binji celebrates cost efficiency while cement prices have jumped 30 percent, raising questions about how much of the profit surge came from consumers bearing higher costs. Nigerians paying N10,000 to N11,000 per bag are effectively funding BUA Cement's retained earnings of N638.69 billion. If operational savings were real, prices would reflect some relief instead of uniform increases across the industry. The company's gains appear less about transformation and more about passing costs to a market with little choice.
💡 NaijaBuzz is an AI-assisted news aggregator. This content is curated from third-party sources — NaijaBuzz is not the original publisher and is not responsible for the accuracy of source reporting. The NaijaBuzz Take is AI-assisted editorial opinion only, not established fact. All persons mentioned are presumed innocent until proven guilty by a court of competent jurisdiction. NaijaBuzz does not endorse the views expressed in source articles.
