Business

Revenue of BUA Cement Plc increases to N71.52 billion

BUA Cement Plc, in its audited financial statement, announced an 18.5% year-on-year growth in profit to N71.52 billion for the financial year of 2020, compared to last year’s figure of N60.34 billion.

Acccording to the statement, theb double-digit growth in profit shows the cement maker’s focus on efficiency, excellent cost optimization strategies, newer technologically advanced plants, and lastly the strong growth in revenue which was driven by the rising demand for cement.

It was gathered that BUA Cement’s revenue increased by 19.33% in 2020,  the highest among other cement manufacturers in 2020, as the company’s revenue growth of 19.33% beats, Dangote’s 16%, and Lafarge’s 8.3% year-on-year growth.

Revenue gotten from the sale of bagged and bulk cement grew by 19.33%, driven by 19.52% growth in the sales of bagged cement, while revenue generated from the sales of bulk cement declined by 32.59%

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