BUA Foods records ₦1.5trn revenue in 2024, declares ₦13 dividend

..…Posts ₦265.9bn Profit After Tax

By Emma Ujah, Abuja Bureau Chief & Favour Isaac

BUA Foods Plc has announced a gross of ₦1.53 trillion for the fiscal twelvemonth ended December 31, 2024, with nett aft taxation rising 137% to ₦265.9 cardinal from ₦112 cardinal successful 2023.

At its 4th Annual General Meeting successful Abuja, shareholders approved a dividend of ₦13 per share—up 136% from the ₦5.50 declared successful the erstwhile year. Chairman Abdul Samad Rabiu described BUA Foods arsenic the astir capitalized nutrient institution connected the Nigerian Exchange (NGX).

Rabiu said the institution was expanding its pasta installation with 9 caller long-cut pasta lines and investing successful 4 caller wheat milling plants to boost flour capacity. He added that BUA’s sweetener task was connected track, noting the initiatives would make jobs, fortify nutrient security, and enactment economical growth.

Managing Director, Engr. Ayodele Abioye, attributed the show to strategical investments successful production, diversification, and marketplace expansion, contempt economical volatility.

Shareholders’ groups applauded the company’s show and leadership. BUA Foods besides highlighted its relation successful helping trim atom prices from implicit ₦100,000 per 50kg container 2 years agone to astir ₦60,000–₦65,000.

Rabiu reaffirmed BUA Foods’ committedness to nutrient security, backward integration, and stakeholder collaboration, portion commending authorities efforts astatine stabilizing the overseas speech market, which helium said has boosted capitalist confidence.

The station BUA Foods records ₦1.5trn gross successful 2024, declares ₦13 dividend appeared archetypal connected Vanguard News.