BUA Cement Plc, a Nigerian cement company, expects to generate N102.684 billion in sales, in the third quarter (Q3) of 2022.
The cement company estimated N50.248 billion in cost of sales for the period in its prediction of statement of profit or loss and other comprehensive income acquired from the Nigerian Exchange Limited (NGX).
During the quarter, BUA expects to earn N42.926 billion in profit before tax and N35.629 billion after tax.
BUA Cement, Nigeria’s second-largest cement manufacturer, posted a profit of N33.14 billion in the first quarter (Q1) of 2022, up 48.18% year-on-year.
Further examination of the data reveals that the company’s product categories have improved, resulting in increased revenue over time. Year on year, revenue increased by 58.50% to N96.99 billion.
Cost of materials climbed by 66% from N9.14 billion in Q1 2021 to N15.18 billion in the present period, as revenue from sales of cement, the company’s only revenue division during the time, increased by more than 58%.
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The firm also profited from investment interest income, earning N315.63 million in total. Interest expenditures over the period, however, kept this down, resulting in a Net financing cost of N30.32 million.
BUA Cement Plc, on the other hand, increased its other revenue by 715.40% year-on-year to N185.99 million, mostly from sundry income and insurance claims.
Furthermore, the company’s total assets have increased by 8.32% to N783.73 billion, while net assets have increased by 8.32% to N431.26 billion. Long-term borrowings for the corporation stands at N52.46 billion.
For the period, BUA Cement’s Earnings Per Share (EPS) were N0.98, up from N0.66 in Q1 2021 by 48.48 percent. For the fiscal year ending December 31, 2021, the firm plans to pay its shareholders a total dividend of N2.60.
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