2023: BUA Cement's profit before tax declines 44% to N67.23bn due to FX loss and economic challenges, despite a 27.4% revenue increase.
BUA Cement Plc reported a 44% decline in profit before tax in 2023, at N67.23bn, down from N120.15bn in 2022, due to a significant N69.96bn foreign exchange loss. Despite a 27.4% revenue increase, the challenging business environment and economic headwinds impacted cement sales volumes. The company's board recommended a N2.00 dividend payout per share to shareholders.
March 18, 2024
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