Written By Dedeigbo Ayodeji
Posted By Admin
Published By Fitness Network Communications
Bua Foods Record 22.85Billion Net Profit After Tax For Q1 2022… Details of Financial Statement
BUA Group’s new baby, BUA Foods is truly blazing the trail and the figures are looking up for investors as the company marches on even in first year of being listed.
BUA Foods is Nigeria’s leading food and fast-moving consumer goods (FMCG) business, which processes, manufactures, produces and distributes food materials such as sugar, flour, pasta, rice, and edible oils as well as packaged foods.
The Company’s products currently include fortified and non-fortified sugar, flour for large and small scale use, and pasta. In addition, the Company expects to commence the processing, manufacturing, production and distribution of rice by 2022 and edible oils by 2024.
To confirm its place, BUA Foods Plc has released its statement of profit or loss and other comprehensive income for the three months ended 31st March 2022 with 18.6% rise in group net profit after tax to N22.844 billion from N19.260 billion in Q1 2021.
Group turnover for the quarter rose to N90.067 billion from N70.203 billion in Q1 2021.
Earnings per share increased from 1.07 Naira in the corresponding period in 2021 to 1.27 in the new year, while total assets as well as current assets also increased accordingly.
The Company currently owns mills, plants, refineries, and plantations across different regions in Nigeria – they are Oil Mill, Rice Mill; Bassa Sugar Plantation; Lafiagi Sugar Plantation, Sugar Refinery; Sugar Refinery, Oil Mill; and Flour Mill, Pasta Plant, Sugar Refinery.
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