BUA Cement Plc has projected N102.684 billion revenue for the third-quarter ending September 2022.
According to the forecast of the statement of profit or loss and other comprehensive income sent to the Nigerian Exchange Limited (NGX), the company also projected N50.248 billion as the cost of sales for the period.
BUA also targets N42.926 billion as profit before tax and N35.629 billion for profit after tax during the period.
For Q1 2022, Nigeria’s second-largest cement producer reported a profit of N33.14 billion, representing 48.18 per cent.
Further analysis of the result indicated that the company’s product categories improved, driving revenue growth in the period. Revenue growth for the period was N96.99 billion, a 58.50 per cent Year-on-Year (YoY) increase.
As revenue from sales of cement, the company’s only revenue segment during the period increased by over 58 per cent, cost of materials similarly appreciated by 66 per cent from N9.14 billion in Q1 2021 to N15.18 billion, in the current period.
The company also made money from interest income earned from investment, raking in a total of N315.63 million. This was however subdued by interest expenses during the period, resulting in a net finance cost of N30.32 million.