BUA Foods profit rises to N21.25Bn
BUA foods Plc have reported a operating profit of N21.25Bn for the first 9 months of 2021, a significant increase from the N18.96 in the same period from the previous year.
BUA Foods Plc, which recently listed on the Nigerian Exchange Limited at the beginning of this month, stated their net profit increased to N16.56bn, a increase of N1.03bn in comparison to the same period within 2020.
Mr Abdulsama Rabiu, the BUA Group Chairman, stated the company was determined to increase opportunities available within the agribusiness in an attempt to increase food security and growth for both Nigerians and African’s.
The Chief Executive Officer, NGX, Mr Temi Popoola, was quoted as saying the listing marked a new beginning for BUA Foods, saying the company could leverage services the Exchange offers to achieve its strategic objectives.
He said, “BUA Foods has experienced an upward trend in share price, market capitalisation, and trading activity since its listing on the Exchange. At NGX, this milestone transaction is in line with our strategic objectives to improve listings and enhance investors’ participation in our market.
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Source: Punch, January 2022