CEMENT producer BUA Cement, on Monday, announced an impressive 2020 half-year revenue of N101.3 billion and a Profit after Tax (PAT) of N34.82 billion.
These represent an increase of 12.7 per cent and 13.74 per cent, from the corresponding period of 2019.
BUA Cement Managing Director Yusuf Binji said the company’s continued impressive performance in 2020 despite the challenging operating environment caused by the covid-19 pandemic was a pointer to the value and strength of the BUA Cement brand and its product offerings.
He added that it was also a nod to the excellent implementation of the company’s Business Continuity Plan, which ensured that BUA Cement was able to withstand the impact of the pandemic in the period under review.
“Our resilient performance continues to showcase the value and strength in our product offering, alongside our strategic business model. Our revenue increased by 12.7 per cent to N101.3 billion, from the corresponding period in 2019. Our operating profits increased by 7.0 per cent, from N38.1 billion in H1’2019, to N40.8 billion in H1’2020. Equally, EBITDA margin improved in this quarter to 48.1 per cent – an improvement from 45.6 per cent in Q1, 2020,” Binji said.
The BUA Cement boss stated that to further drive cost efficiencies and sustainability, the company entered into strategic alliances for the supply of Liquefied Natural Gas (LNG) at the Kalambaina, Sokoto State and the management of its mining operations.
