BUA Cement’s Q2 Profit Soars on Higher Revenue, FX Gain

BUA Cement, the second-largest manufacturer of the building material in Nigeria, reported more than a sixfold increase in its profit after tax for the second quarter of the year compared to a year earlier.

The company’s net profit jumped to N99.77 billion from N16.28 billion in Q2 2024 as its revenue rose to N289.48 billion from N202.81 billion, according to its earnings report released on Friday.

It posted a foreign exchange gain of N1.62 billion compared to a loss of N29.92 billion a year earlier.