BUA Cement Grows Profit by 60% to N463.1bn in Nine Months

**Kayode Tokede **

BUA Cement Plc, yesterday released its unaudited financial statements for the nine months ended

September 2026, with profit after tax at N463 billion, about 60 per cent growth from N289.6 billion reported in nine months ended September 2025.

Also, Profit before tax closed nine months of 2026 at N556.7 billion, a 64.4 per cent growth from N338.6 billion in nine months of 2025.

The nine months of 2026 reflected three consecutive quarters of volume growth compared with the corresponding periods in 2025, despite heavy rainfall and poor road conditions.

The performance also highlights the Company’s continued focus on operational and financial efficiencies.

Despite challenges in the last quarter, revenue moved to N1.1 trillion in nine months of 2026, about 26.5per cent increase from N858.7 billion in nine months of 2025, driven by continued growth in bulk cement sales.

Cost of sales closed nine months of 2026 ay N466.4 billion, up by 8.8per cent from N428.6 billion in nine months of 20245, partly due to an adverse energy mix, operational challenges, and elevated prices linked to geopolitical tensions in the Middle East.

Nevertheless, gross profit and EBITDA margins improved by 7.0 and 6.3 percentage points to 57.1per cent and 52.7per cent, respectively, supported by lower O&M service charges and cost savings

from the introduction of LNG-powered trucks.

Return on Equity and Asset of 63per cent and 27.4per cent, respectively, reflecting further improvements in operating margin, asset turnover, and interest burden.

Speaking on the results, the Managing Director/CEO, Yusuf Binji in a statement said: I am delighted with our performance, which demonstrates resilience despite challenging conditions, particularly on account of the heavy rainfall and its impact on road infrastructure.

“We surpassed our quarterly performances of 2025 through the addition of bulk customers, the acquisition of LNG trucks, and the further restructuring of our logistics operations.

“The LNG trucks are eco-friendly, thus reducing our carbon footprint on the environment while harnessing the country’s abundant gas reserves.

“This investment will also enhance market penetration and operational efficiency. Energy costs were elevated during the quarter due to supply constraints but have since normalised.:”

He added that, “Looking ahead to the fourth quarter, we remain committed to achieving our objectives through profitable partnerships with our distributors and sustained efforts to reduce our cost to serve.”