BUA Cement Plc records strong revenue growth of 90.5% to N867.5bn, pays N2.05 dividend per share

BUA Cement Plc held its Annual General Meeting today. According to the financial report presented by the Board of the Company, its revenue soared to ₦876.5 billion, a remarkable increase from ₦460 billion in 2023. This topline growth was complemented by strong profitability, with profit before tax rising by 48.2% to ₦99.6 billion (2023: ₦67.2 billion) and profit after tax increasing by 6.3% to ₦73.9 billion, up from ₦69.5 billion in the previous year

Within the period under review, BUA Cement commissioned two additional lines in Edo and Sokoto States, which increased its installed production capacity from 11MMTPA to 17MMTPA. In addition to this, the Company broke ground to commence the construction of a greenfield 3 MMTPA production line Ososo, Edo State. BUA Cement further invested in its logistics operations with the purchase of additional trucks, while it also digitalised its payment and product order processes with the introduction of an online payment solution, which reduced customer waiting times, thereby improving customer experience.

According to the Managing Director/ CEO, Yusuf Binji: “As we reflect on our achievements in 2024, BUA Cement stands at the threshold of unprecedented opportunity, strategically positioned to address Nigeria’s persistent infrastructure deficit while delivering exceptional value to our shareholders. Our journey forward is anchored on four interconnected priorities that will define our success: optimise our production capacity, continue prudent debt management, expand our market presence in underserved regions, and embrace digital transformation across our operations”.

He stated further that BUA Cement remains anchored to the RICE values – Respect, Integrity, Commitment and Excellence. These principles, mirrored in every bag of cement we produce, ensure that trust is not just a promise but a measurable outcome.”