BUA Foods, a fast-moving consumer goods firm, recorded a 91 per cent after-tax profit surge in the nine months of 2024, driven by growth in the other income.
BusinessDay reports that the firm’s other income grew to ₦25.17 billion in the nine months of 2024 from ₦1.29 billion in the similar period of 2023.
BUA Foods’ after-tax profit increased to ₦201.4 billion from ₦105.6 billion in the corresponding period of 2023.
“We are thrilled to have sustained a remarkable growth trajectory, underscoring the impact of our strategy, innovative product development, and steadfast commitment to quality, even in the face of a challenging business climate,” Ayodele Abioye, managing director of BUA Foods, said.
“We saw the benefits of our production capacity expansion and product innovation, as we witnessed an 11 percent growth in aggregate volume which has further strengthened our position within the industry,” he said.
