BUA Cement, one of Africa’s largest cement producers, has declared revenue of N156.6 billion in its 2020 third quarter (Q3) financial results for the 9-months ended, September 2020 – an increase of 21 per cent from N129.4bn in the corresponding period of 2019.
In its filing to the Nigerian Stock Exchange (NSE), BUA said its Profit After Tax (PAT) also grew by 24% to N53.57bn from the corresponding period in 2019.
Speaking on the result, the Managing Director/CEO of BUA, Engr. Yusuf Binji said: “This has been a very resilient performance, underpinned by the continued quality that characterises the BUA Cement product offerings as we see more end-users able to differentiate the attendant benefits of using our products
“Expectedly, we witnessed a resurging demand from a resilient private sector – within and outside Nigeria, as the lockdown was eased, coupled with a short rainy season: despite flooding in some parts of Nigeria and Niger”.
He said despite 2020 being a challenging year, the company has been buoyed by a growing customer base aided by the deliberate decision to focus on quality.