BUA Foods Plc, one of Nigeria’s leading food manufacturing companies, has announced its unaudited financial results for the fiscal year 2024, posting significant growth across all key performance indicators.
The company’s resilience, operational efficiency, and strategic expansion efforts have continued to drive remarkable financial performance, further reinforcing its leadership position in the industry.
Founder and Chairman of BUA Foods, Abdul Samad Rabiu, CON, attributed the company’s strong results to its unwavering commitment to innovation, efficiency, and market expansion.
He stated: “BUA Foods’ exceptional growth in 2024 is a testament to our long-term vision of ensuring food security in Africa.
We have continued to invest in capacity expansion, optimise our supply chain, and enhance operational efficiencies to meet growing market demand.
“As we move forward, our focus remains on driving sustainable growth, strengthening our market leadership, and delivering superior value to our customers and stakeholders.”
The company’s revenue surged by 109.3 per cent to a record N1.53 trillion, up from N729.4 billion in 2023, driven by strong sales growth across key product segments, optimised pricing strategies, and enhanced cost management measures.
Gross profit grew by 107.9 per cent to N541.71 billion, while profit after tax rose 145.3 per cent to N274.95 billion, further solidifying BUA Foods’ position as a dominant player in Nigeria’s food manufacturing sector.
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