BUA Foods Plc increased profit after tax by 11% to ₦450.47 billion for the nine months ended 30 September 2026, up from ₦405.27 billion in the corresponding period of 2025. The gain came despite a 19% decline in revenue to ₦1.15 trillion, which the company linked to softer pricing conditions and subdued consumer demand.
Gross profit rose to ₦552.90 billion from ₦520.65 billion, lifting gross profit margin to 48.3% from 36.7% in the prior-year period. Cost of sales declined by 34% to ₦592.94 billion, reflecting lower topline costs and a more stable foreign exchange environment.
Total operating expenses fell 20% to ₦66.99 billion from ₦83.65 billion. Selling and distribution expenses decreased 15% to ₦45.04 billion, while administrative expenses dropped 28% to ₦21.95 billion.
The tighter cost structure supported a 12-percentage-point expansion in operating profit margin to 43% from 31%. Profit before tax grew 11% to ₦480.52 billion, and earnings per share rose 11% to ₦25.03 from ₦22.52.
Managing Director Engr. Ayodele Abioye said the unaudited nine-month results demonstrate the resilience of the company's operating model and the benefits of disciplined cost and margin management. He noted that despite the revenue decline, profitability improved through effective cost optimisation, improved productivity and rigorous execution across the business.
Abioye added that the sustained strength of the company's brands and continued investment in route-to-market capabilities provide a foundation for future growth. He said the company remains focused on driving profitable growth, enhancing market penetration and maintaining operational efficiency.
BUA Foods said it will continue to strengthen its market position and build on its established brands and supply chain capabilities. Its diversified portfolio spans sugar, flour, pasta, rice and edible oils, and the company said it will keep leveraging its manufacturing scale, distribution capabilities and established market presence to support long-term growth ambitions.
