BUA Cement Profit After Tax grow by 19.4 percent to close at N72.3billion

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BUA Cement Plc, listed manufacturing company on the Nigerian Exchange Group (NGX) despite the pandemic and attendant economic slowdown, the company declared a 19.3per cent increase in revenues to N209.4billion in 2020 from N175.5 billion, as at FY2019. The company also declared Profits After Tax of N72.3billion representing a 19.4per cent increase over the corresponding period in 2019.

The Chairman of BUA Cement Plc,  Abdul Samad Rabiu, has announced a share bonus gift, from his pool of shares, for employees of the company worth almost N2billion in recognition of their effort to keep the company profitable despite the pandemic and predictions of a tough year.

Inspite all operational odds, BUA Cement has performed well and its remained one of the most profitable companies in Nigeria declaring a Profit After Tax of N72.3billion.This represents a 19.4per cent increase over the corresponding period in 2019.This was announced by the company in a statement and details released in a filing on the NGX.

The Chairman said it was important to recognise the effort of key workers who worked tirelessly despite the 2020 pandemic to keep the company on a strong footing even as the company was better placed to stay profitable for the foreseeable future.

“As we head into another year of record profits, this share bonus for our employees is only the right thing to do. By doing so, our core employees are better placed to benefit from BUA Cement’s future successes which they continue to help deliver,” Rabiu said.

 


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