BUSINESS

BUA Foods Boosts Profit By 97.05% To N69.77bn In 2021

 

BUA Foods Plc formerly BUA Sugar Refinery Limited has released its annual report and financial statements For the year ended 31 December 2021 with 97.05% growth in group  profit after tax to N69.768 billion from N35.407 billion in 2020.

Group revenue increase rose to N333.272billion from N192.860 billion in 2020.

Meanwhile, the Board of Directors has recommended for the approval of shareholders a payment of N3.50k dividend per 1 ordinary share of 50 kobo each, out of the profits declared in the financial year ended 31 December 2021 (2020: Nil).

The principal activities of the Group are processing, manufacturing, production and distribution of food materials such as sugar, flour, pasta, rice, and edible oils as well as packaged foods. These activities are conducted primarily in Nigeria.

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