Bua Foods Plc Records 61% Increase In Its Q3 2022 Pre-tax Profits

Bua Foods Plc released its 2022 Q3 results on Friday, November 4, 2022, reporting a pre-tax profit of N31.881 billion.

BrandNewsDay understands that Bua Foods Plc 2022 Q3 result represents a 61% increase from the N19.821 billion the company reported during the same period in 2021.

Below are Bua Foods Plc 2022 Q3 results

Revenue

2022 Q3: N120.5 billion  

2021 Q3: N86.5 billion 

Change: +39.31% 

Gross Profit

2022 Q3: N41.1 billion  

2021 Q3: N26.6 billion 

Change: +54.51% 

Operating profit 

2022 Q3: N33.7 billion  

2021 Q3: N21.8 billion 

Change: +55.59% 

Finance charges

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2022 Q3: N2.251 billion  

2021 Q3: N2.334 billion 

Change: -3.56% 

Bua Food Plc Pre-tax profit

2022 Q3: N31.9billion 

2021 Q3: N19.8 billion 

Change: +61.1% 

Net Profit after tax  

2022 Q3: N30.05 billion 

2021 Q3: N18.19 billion 

Change: +65.2% 

Cash in hand

2022 Q3: N41.4 billion 

2021 Q3: N30.3 billion 

Change: +36.63% 

Bottom line: Bua Foods Plc’s growth in pre-tax profits was due to the increase in revenue from both the sugar and flour divisions of the company, driven majorly by price adjustments and export sales as the volume sold declined.

While the volume sold declined due to a decline in production, the decline in production was attributable to energy disruptions within the period.