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BUA Cement Plc has released its unaudited financial statements for Q1 ended March 31, 2026, reporting a pre-tax profit of N192.88 billion, up from N99.7 billion in Q1 2025.

The performance was driven by strong revenue, with quarterly sales rising to N355 billion from N288 billion in Q1 2025.

Apart from revenue, the significant growth in interest income and the nearly flat cost of sales contributed to the bottom-line profitability.

Hence, profit after tax jumped to N176 billion from N81 billion, while earnings per share jumped to N5.21 from N2.40.

Speaking on the results release, the Managing Director, Yusuf Binji, said,

On the company’s outlook, the MD stated

Notes to the financial statements indicate that revenue was primarily driven by sales of bagged cement, which accounted for over 95% of total revenue, compared to revenue from bulk cement sales.

The almost flat growth in the cost of sales helped profitability.  The significant drop in operation and maintenance service charge to N31.41 billion from N52.9 billion in Q1 2025, and the drop in energy consumption to N67 billion, helped moderate the cost of sales.

Beyond revenue and moderated costs, finance income, driven by interest income, surged to N11.279 billion, 639% higher than the N1.52 billion recorded in Q1 2025.

On the balance sheet, total assets rose to N1.987 trillion, driven by plant, property and equipment and cash and short-term deposits.

Market reaction  

BUA Cement shares have yet to fully react to the Q1 2026 results, trading flat on April 23, 2026, at N317 per share.

Year-to-date, the stock remains up 77.6% on the Nigerian Exchange, following a 91% gain in 2025