BUA Cement eyes N102.68bn revenue in Q3′ 22

BUA Cement Plc is projecting a revenue of N102.684 billion revenue for third-quarter ending September 2022.

Information obtained from the Nigerian Exchange Limited (NGX), the cement firm is expected to spend almost half of its revenue on cost of operation as a result of dilapidating infrastructure. The cement company projects N50.248 billion as cost of sales for the period.

BUA is also targeting to rake in N42.926 billion as profit before tax and N35.629 billion for profit after tax during the period.

BUA Cement, Nigeria’s second-largest cement producer reported a profit of N33.14 billion during the first quarter of 2022, representing 48.18 per cent increase Year-on-Year (Y-o-Y).

Further analysis of the result shows that the company’s product categories improved, driving revenue growth in the period. Revenue growth for the period was at 58.50 per cent year on year, recorded as N96.99 billion.

As revenue from sales of cement, the company’s only revenue segment during the period increased by over 58 per cent, cost of materials similarly appreciated by 66 per cent from N9.14 billion in the first quarter of 2021 to N15.18 billion, in the current period.

The company also made money from interest income earned from investment, raking in a total of N315.63 million. This was however subdued by interest expenses during period, resulting in a Net finance cost of N30.32 million.

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