BUA Cement Plc delivered a standout financial performance for the first quarter ended March 31, 2026, with revenue rising to N354.979 billion.
The amount represents a surge of 22.1 per cent year-on-year compared to N290.820 billion reported in the corresponding period of 2025.
The performance revenue reflecting a combination of price adjustments and sustained demand across Nigeria’s construction and infrastructure segments.
The company growth in revenue was underpinned by strong bagged cement sales which contributed N340.58 billion and bulk cement accounting for N14.40 billion of the total.
Profitability surged strongly during the period as operating profit increased by 50.8 per cent to N179.509 billion, compared to N119.035 billion in the prior year, while gross margin rose to approximately 56.9 per cent and operating margin strengthened to 50.6 per cent.
The bottom line was further boosted by a significant turnaround in the company’s financial position, as BUA Cement recorded a net exchange gain of N13.01 billion, a reversal from a loss of N836.8 million in first quarter of 2025 and net finance costs improved from a loss of N18.628billion to a marginal gain of N13.18 billion.
However, profit before tax rose by 93.2 per cent to N192.684 billion from N90.740 billion in the same period of 2025, while profit after tax doubled by 117.4 per cent to N176.38 billion from N81.12 billion in the same period of 2025 after paying tax of N16.307 billion against N18.617 billion paid in the preceding year.
Return on Equity came in at 20.8 per cent, while the strengthened gross and operating margins underscored efficient cost management and operational leverage.
Earnings per share climbed to N5.21, reflecting the significant profitability improvement. On the balance sheet, total assets rose to N1.99 trillion as of March 2026, up from N1.86 trillion at year-end 2025, while cash and short-term deposits increased significantly to N404.05 billion from N280.38 billion, indicating robust liquidity.
Capital market operators projected positive reaction from investors in stocks price movement, given the scale of the earnings beat and the broad-based nature of margin improvement.
Meanwhile the company recorded exceptional profitability for the 2025 financial year, posting profit before tax of N465.28 billion against N99.63 billion in the preceding year, representing 367 per cet. Profit after tax also surged by 380 per cent to N356.04 billion within the year under review from N73.91 billion reported the previous year. Revenue grew by 34.6 per cent to N1.18 trillion from N876.47 billion in the previous year while operating profit surged from N144.30 billion to N504.55 billion.
Managing Director of BuaCement, Yusuf Binji while commenting noted on the performance said “It is encouraging to see our results and organisational transformation aligning so well. Revenue growth remained strong as we continue to meet cement demand, including in the bulk segment.
“We also progressed our business transformation programme during the quarter, including the realignment of the Transport Department for greater effectiveness. While the transition presented some challenges, we have now achieved operational stability.
“Following the strategic alignment initiated mid-last year, we expect the benefits to be fully reflected in our bottom line this fiscal year and sustained thereafter. Considering the current geopolitical environment, our cost reduction initiatives have proven timely, safeguarding our profitability and reinforcing operational agility.
“Over the coming quarters, our focus will be on further reducing operating costs through optimisation and enhanced monitoring while increasing brand penetration, particularly within what we define as “new markets,” he said.