BUA Foods Plc has posted a profit after tax of N450.47 billion for the first nine months of 2026, marking an 11.15 per cent jump from the N405.27 billion recorded in the same period of 2025. The food manufacturing giant achieved this financial boost despite facing a 19 per cent decline in overall turnover.
The firm revealed the figures in its unaudited financial statement for the period ended September 30, 2026, according to Punch. The company explained that lower manufacturing costs, decreased operating charges, and relative stability in the foreign exchange market supported its stronger bottom line.
Revenue fell to N1.15 trillion from around N1.42 trillion in the corresponding timeframe of 2025, showing a drop of roughly N270 billion. However, gross profit rose by 6.19 per cent to hit N552.90 billion, lifted by a significant 34 per cent drop in the cost of sales, which settled at N592.94 billion. This reduced spending expanded gross profit margin to 48.3 per cent, up from 36.7 per cent in 2025.
Managing Director of BUA Foods, Ayodele Abioye, explained that lower pricing conditions and quiet consumer demand triggered the drop in revenue. He stated that the business maintained progress through careful cost controls, better productivity, and firm execution. He added that the performance proved the strength of their operational setup and margin oversight.
Operating expenses across the business also fell by 20 per cent to N66.99 billion. A breakdown showed that distribution and selling costs dropped by 15 per cent to N45.04 billion, while administrative expenses declined by 28 per cent to N21.95 billion. Consequently, profit before tax went up by 11 per cent to N480.52 billion, taking earnings per share to N25.03 compared to N22.52 previously.
Looking ahead, Abioye stated that the company will keep focusing on operational efficiency, wider market penetration, and profitable growth. BUA Foods, which trades on the Nigerian Exchange Limited, runs operations across sugar, flour, pasta, rice, and edible oils, and plans to strengthen its supply chains for the rest of the year.
