BUA Foods hits N5 trillion post-listing capitalisation

AS a reward for driving value towards sustainable growth and market leadership, BUA Foods Plc has achieved a record market capitalisation of over N5 trillion post-consolidation and listing on the Nigerian Exchange (NGX).

Driven by the desire to fortify its presence in the agribusiness and food-processing sector, Chairman, BUA Foods, Abdul Samad Rabiu, said the company has consolidated its diverse food businesses into a unified entity and listed by introduction on the NGX two years ago.

“This not only streamlined operations but also bolstered the company's capacity to capitalise on the growth opportunities and export potential presented by the African Continental Free Trade Area (AFCFTA). By consolidating the business divisions alongside two wholly owned subsidiaries, the company plays a pivotal role in driving economic growth, producing highquality foods and creating long-term value,” he said.

Adding that food security is their most important mission, he stressed that they are working fully towards fulfilling Africa’s food demands and improving the wellbeing of individuals and communities, distinguishing and positioning the company as an important player in Nigeria’s dynamic food sector and beyond.

For the financial year ending 2023, BUA Foods total revenue reached N728 billion, marking a 74 per cent yearon-year increase, and underscores the company's resilience and agility in navigating global and local economic challenges, with a notable compound annual growth rate of 30 per cent since 2021.

Operating profit expanded from N79 billion to N213 billion between 2021 and 2023, respectively while profit before tax surged to N252 billion, compared to N102 billion in the previous year.

Also, profit after tax soared from N69 billion to N111 billion, reflecting robust operational performance and effective cost management strategies.