BUA Cement Plc has announced its 2024 audited financial results, reporting a 6.4% year-on-year growth in earnings per share (EPS) to N2.18.

The company’s revenue surged by 90.5% year-on-year to N876.47 billion, driven by upward price adjustments and higher sales volumes.

Despite the robust revenue growth, the company’s gross margin declined by 707 basis points year-on-year to 37.1%, due to higher energy costs and operation and maintenance service charges.

However, the company’s profit before tax increased by 48.2% year-on-year to N99.63 billion, driven by the strong revenue growth.

The company’s board has proposed a final dividend of N2.05 per share, representing a dividend yield of 2.2% based on the closing price of N93.00 per share as of February 28.

Looking ahead to 2025, analysts expect sustained revenue growth and EBITDA margin expansion driven by increased demand and higher contributions from new plants.