BUA Cement’s FX Gain, Revenue Lift Nine-Month Profit by 492%

BUA Cement, Nigeria’s second-biggest producer of the building material after Dangote, saw its profit soar nearly sixfold in the first nine months of the year on higher revenue and foreign exchange gains. 

The company reported an after-tax profit of N289.86 billion, up from N48.97 billion, according to its latest earnings report. 

Its revenue rose to N858.73 billion from N583.41 billion.

BUA Cement swung to a net forex gain of N21.63 billion from a loss of N57.44 billion.