BUA Foods Plc has released its Audited financial result for the period ended December 2021, revealing a profit of N69.77 billion, representing a 97% growth from the prior-year period, as revenue grew by 73%.

The year being reviewed witnessed persistent increase in prices of goods and services, resulting in inflationary pressures that affected both consumers, whose purchasing power and disposable income were consistently dwindling, and producers who were also faced with a significant increase in the cost of raw materials and general production costs.

Although, the company recorded growth in sales on the back of double-digit food inflation, bottom-line profit was affected by increased production costs as well as finance costs which grew by a whopping 78% and 40%, respectively, during the period under review.

BUA Foods Plc’s earnings per share (EPS) for the period was at N4.24, an 115.23% increase from N1.97 in FY 2020.

The company last traded at N59.50 per share and has appreciated by 48.75% from the day of listing at N40.00.