BUA Foods’ assets rise to N1.67tn

BUA Foods Plc has reported a significant increase in its total assets, growing by 20% to N1.67 trillion during the first half of 2026. This asset growth occurred even as the company experienced a 16% decline in revenue for the same period.

The company's financial results for the six months ending June 30, 2026, revealed that total equity also saw a substantial rise of 41%, reaching N1.01 trillion. BUA Foods stated that this robust equity base provides a solid platform to support strategic investments across its operations, particularly in accelerating one of its largest expansion programs in history. These investments are focused on wheat milling, edible oils, noodles, and integrated manufacturing, aiming to bolster domestic food production and enhance Nigeria's food security.

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BUA Foods demonstrated strong resilience in the first half of 2026, navigating a challenging operating environment with discipline and agility. Our performance reflects effective cost management, ongoing improvements in supply chain execution, and a more optimised product portfolio mix.

Despite the overall decrease in revenue to N765.12 billion from N912.51 billion in the first half of 2025, which the company attributed to moderated pricing amidst inflationary pressures, BUA Foods managed to improve its profitability. Profit after tax increased by 12% to N292.27 billion, up from N260.10 billion in the corresponding period of 2025. Profit before tax and operating profit also saw increases of 14% and 13%, respectively, highlighting improved operational efficiency and disciplined cost management.

Ayodele Abioye, Managing Director of BUA Foods Plc, emphasized the company's resilience in navigating a challenging business environment. He noted that the performance reflects effective cost management, supply chain execution, and an optimized product portfolio. Abioye added that despite the revenue dip, the company expanded margins and achieved double-digit growth in key financial indicators, underscoring the strength of its business model and commitment to operational excellence. The focus for the second half of the year will be on translating these operational gains into higher sales volumes while maintaining profitability.

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Despite a 16 per cent decline in revenue, we expanded margins and delivered double-digit growth across key financial indicators. This outcome underscores the strength of our business model, the quality of execution across our operations, and our unwavering commitment to operational excellence.