BUA Foods Doubles Profit as UBA Sees Marginal Dip Amid Tight Market Conditions

Lagos, Nigeria – 30 October 2025

 

Nigeria’s corporate earnings season produced a mixed picture as BUA Foods Plc posted an impressive near-doubling of profit before tax for the third quarter of 2025, while United Bank for Africa (UBA) Plc reported a modest decline in pre-tax profit despite higher interest income.

For the quarter and year to date ended 30 September 2025, BUA Foods’ profit before tax soared to ₦156.47 billion, up 99.4% from ₦78.47 billion a year earlier. The Company’s standalone profit before tax also jumped 80.2%, from ₦58.57 billion to ₦105.52 billion.

Turnover surged to ₦508.22 billion from ₦398.40 billion in the same period of 2024, with cost of sales rising at a slower pace. This pushed gross profit up to ₦181.31 billion from ₦115.38 billion, underscoring gains from improved efficiency and production output.

Although administrative and distribution expenses increased due to higher logistics and operating costs, they were offset by stronger finance income and a reversal of foreign exchange losses recorded last year.

The result reaffirms BUA Foods’ position as a leading player in Nigeria’s fast-moving consumer goods sector and demonstrates its resilience amid inflationary pressures and exchange rate volatility. The company said it remains focused on sustaining growth through tighter cost control, efficiency, and market expansion.

In contrast, UBA reported a 4.1% dip in profit before tax, which fell to ₦578.6 billion from ₦603.5 billion in the same period of 2024. The bank attributed the slight decline to weaker trading and foreign exchange income, even as its interest earnings rose.

Gross earnings edged up to ₦2.47 trillion from ₦2.40 trillion, buoyed by a 10% increase in interest income to ₦1.98 trillion. Net interest income also improved to ₦1.17 trillion from ₦1.10 trillion. However, non-interest income declined sharply from ₦435.8 billion to ₦310.1 billion, while total operating expenses grew to ₦846.1 billion.

Despite the fall in pre-tax profit, profit after tax inched up to ₦537.5 billion from ₦525.3 billion, supported by disciplined balance sheet management and improved asset quality.

UBA said it remains committed to enhancing operational efficiency, deepening its pan-African reach, and expanding its digital offerings to sustain profitability amid a challenging economic environment.