BUA Foods Plc delivered a standout financial performance in 2025, nearly doubling its pretax profit as it continued to benefit from stronger sales across its product lines and a marked reduction in finance costs. The company’s latest financial statement, filed on the Nigerian Exchange (NGX), shows that pretax profit surged to N534.8 billion, up 88.1% from N284.3 billion in 2024.
The fourth quarter played a significant role in the year’s results, contributing N102.2 billion to the annual profit. This was underpinned by Q4 revenue of N383.4 billion, which rose by 39.3%, highlighting the company’s sustained momentum into the latter part of the year.
Overall revenue for the full year rose 18.1% to N1.8 trillion, driven by robust demand across its key staples. Gross profit also increased strongly, rising 24.3% to N672.1 billion, as the company effectively managed cost pressures despite a rise in cost of sales.
Profitability was further supported by other income, finance income, and a sharp reduction in finance costs, largely due to lower foreign exchange losses compared to the prior year. This allowed operating profit to rise to N565.3 billion, while net finance costs fell dramatically to N14.3 billion, from N187.7 billion in 2024.
After accounting for income tax of N27.1 billion, post-tax profit for 2025 came in at N507.7 billion.
Key Highlights (FY 2025 vs 2024)
Turnover (Revenue) rose to N1.8 trillion, an increase of 18.08% year-on-year, while cost of sales increased to N1.13 trillion from N987.1 billion. Gross profit grew to N672.1 billion, up 24.29% from the previous year. Administrative expenses rose to N40.4 billion from N28.5 billion, while selling and distribution expenses climbed to N68.7 billion from N40.2 billion. Operating profit increased to N565.3 billion, up 19.75% year-on-year. Finance costs fell sharply to N21.9 billion, down from N203.2 billion. Pretax profit jumped to N534.8 billion, an increase of 88.12% year-on-year. Total assets rose to N1.38 trillion, up 26.54%, while retained earnings increased to N694.7 billion, up 65.02%.
What the Company’s Books Are Saying
A breakdown of BUA Foods’ revenue shows bakery flour as the largest contributor, accounting for 39% of total revenue at N704.7 billion. Fortified sugar followed at N571.4 billion, while pasta contributed N202.6 billion. Non-fortified sugar generated N184.1 billion, and head rice contributed N95.6 billion, with other product lines making up the remaining share.
Cost of sales rose alongside revenue, reaching N1.13 trillion, with raw materials accounting for over 91% of total costs. After these costs, gross profit stood at N672.1 billion, up 24.3% from N540.8 billion in 2024.
Operational costs increased as the business expanded. Administrative expenses rose 41.7% to N40.4 billion, while selling and distribution expenses climbed 70.7% to N68.7 billion. Despite these increases, operating profit remained strong at N565.3 billion, up from N472.1 billion in 2024.
Finance income totaled N7.5 billion, while net finance costs fell sharply to N14.3 billion, compared with N187.7 billion in the prior year, largely due to the elimination of foreign exchange losses. This helped pretax profit jump 88.1% to N534.8 billion, and after income tax, post-tax profit stood at N507.7 billion.
Balance Sheet Performance
BUA Foods’ balance sheet strengthened during the year, with total assets rising to N1.3 trillion from N1.09 trillion in 2024. A major component of this growth was the N844.2 billion recorded as “Due from related companies,” while property, plant and equipment stood at N394.8 billion.
Total shareholder equity increased to N702.7 billion from N429.05 billion, with retained earnings of N694.7 billion—up 65% year-on-year—being the largest contributor. On the liabilities side, total obligations stood at N683.4 billion, a modest 2.5% increase from N666.4 billion the previous year. Current borrowings, the largest portion of total liabilities, fell to N362.8 billion from N391 billion in 2024.
In summary, BUA Foods delivered a strong 2025 performance, with pretax profit nearly doubling to N534.8 billion and post-tax profit reaching N507.7 billion. The company’s revenue was led by bakery flour, fortified sugar, pasta and non-fortified sugar, while the balance sheet strengthened on the back of higher assets and equity. Liabilities remained stable, with current borrowings declining. The company recorded a year-to-date performance of 92.5% in 2025, though it had not yet traded on the NGX in 2026.