BUA Foods profit rises to N450bn despite revenue decline

BUA Foods Plc reported a significant increase in profit after tax to N450.47bn in the first nine months of 2026, marking an 11.15 per cent rise from N405.27bn in the same period last year. This growth occurred despite a 19 per cent decline in revenue, which fell to N1.15tn from N1.42tn. The company's financial results, released on Friday, revealed that the improved profitability was driven by lower production costs, reduced operating expenses, and a more stable foreign exchange environment.

BUA Foods Managing Director Ayodele Abioye highlighted that the company maintained substantial improvements in profitability through effective cost optimization, increased productivity, and rigorous execution across its operations. Despite the revenue decline, gross profit increased by 6.19 per cent to N552.90bn, and operating profit margin expanded to 43 per cent, reflecting a 12-percentage-point increase.

The company's focus remains on maintaining cost discipline, strengthening supply chains, and expanding market penetration to drive future growth despite ongoing challenges in the market.