BUA Cement Plc has released its Q3 2024 unaudited financial results, reporting an 18.2% year-on-year increase in standalone earnings per share (EPS) to ₦0.43.
The company’s revenue surged by 91.2% year-on-year, driven by a notable price increase of approximately 62.5% year-on-year.
However, gross margin contracted by 605 basis points to 35.9%, due to elevated cost pressures and currency depreciation.
Operating expenses rose by 47.7% year-on-year, while net finance costs increased by 44.1% year-on-year.
Despite these challenges, profit before tax (PBT) grew by 132.0% year-on-year to ₦21.63 billion, and profit after tax (PAT) increased by 18.2% year-on-year to ₦14.72 billion.
Analysts expect continued revenue growth in Q4 2024, driven by price increases, but ongoing cost pressures are likely to remain a challenge.