BUA Cement Plc has delivered exceptional third-quarter results, with earnings per share surging 640.4% year-on-year to N3.22.
This is contained in the financial filing made by the company on Monday at the Nigerian Exchange Limited (NGX), extending a remarkable run of profitability amid Nigeria’s challenging economic environment.
The cement manufacturer’s unaudited Q3-25 financial results showed profit after tax jumped to N108.96 billion, driven by robust revenue growth and significant operational improvements.
For the nine-month period ending September, EPS reached N8.56, up 491.9% compared to the same period last year.
Revenue for the quarter rose 26.9% year-on-year, supported by increases in both pricing and sales volumes, though it declined 3.8% from the previous quarter due to typical seasonal patterns in the construction sector. Nine-month revenue grew even more impressively at 47.2% year-on-year, according to the report.
The standout feature of BUA Cement’s results was a dramatic improvement in profitability margins
Gross margin expanded by nearly 19 percentage points to 54.6%, while EBITDA and EBIT margins reached 47.6% and 43.2% respectively, representing gains of over 17 percentage points each compared to Q3-24.
This margin expansion was primarily driven by a 10.2% year-on-year reduction in cost of sales, reflecting sharp cuts in manufacturing costs which was down by 49.3% and maintenance fees that moderated to 53.2%.
The improvements came despite a 65.7% increase in operating expenses, largely due to higher distribution costs.
The company also benefited from a major turnaround in its financial position, recording net finance income of N6.07 billion versus a net finance cost of N33.76 billion in the prior-year quarter.
This swing was driven by reduced interest expenses and a foreign exchange gain of N20.84 billion, compared to an FX loss of NGN17.46 billion in Q3-24.
Profit before tax surged 472.3% year-on-year to N123.77 billion for the quarter.
Analysts noted that BUA Cement’s performance mirrors strong results across Nigeria’s cement sector, with companies benefiting from sustained construction demand and improved operational efficiency. The positive momentum is expected to continue through year-end, supported by resilient demand, favorable pricing dynamics, and operational resilience.
