BUA Foods Plc grew its total assets by 20% to N1.67tn in the first half of 2026. The company's total assets increased from N1.39tn in the corresponding period of 2025 to N1.67tn. According to the statement, total equity rose by 41% to N1.01tn, providing a solid foundation to support strategic investments across its operations. “BUA Foods maintained a strong financial position, with Total Assets increasing by 20% to N1.67tn, while Total Equity rose by 41% to N1.01tn, providing a solid platform to support the Company’s long-term strategic investments,” the statement read. The company said the stronger balance sheet comes as it accelerates one of the largest expansion programmes in its history through investments in wheat milling, edible oils, noodles, and integrated manufacturing operations aimed at strengthening domestic food production and supporting Nigeria’s food security. Despite the expansion in its asset base, revenue fell to N765.12bn from N912.51bn in the first half of 2025, representing a 16% decline. Managing Director of BUA Foods Plc, Ayodele Abioye, said the company’s performance demonstrated its resilience despite operating in a challenging business environment. “BUA Foods demonstrated strong resilience in the first half of 2026, navigating a challenging operating environment with discipline and agility. Our performance reflects effective cost management, ongoing improvements in supply chain execution, and a more optimised product portfolio mix,” he said. Abioye added, “Despite a 16% decline in revenue, we expanded margins and delivered double-digit growth across key financial indicators. This outcome underscores the strength of our business model, the quality of execution across our operations, and our unwavering commitment to operational excellence.” The company is investing in manufacturing capacity, new product categories, and production efficiency to strengthen its long-term growth and reinforce its position as one of Africa’s leading food manufacturers. It added that the investments would deepen local food production, expand market presence, and support sustainable earnings growth while contributing to Nigeria’s long-term food security objectives. The company’s gross profit increased by 7% to N363.23bn, while gross profit margin improved to 47.5% from 37.2% a year earlier. Operating profit margin also expanded to 42% from 31%, highlighting stronger returns driven by operational efficiency and tighter cost controls. The company is investing in manufacturing capacity, new product categories, and production efficiency to strengthen its long-term growth and reinforce its position as one of Africa’s leading food manufacturers. It added that the investments would deepen local food production, expand market presence, and support sustainable earnings growth while contributing to Nigeria’s long-term food security objectives. The company’s focus is on translating its operational gains into higher sales volumes during the second half of the year while maintaining profitability. “Looking ahead to the second half of the year, our focus is on converting our operational gains into volume growth while sustaining the profitability improvements achieved in H1. We remain committed to disciplined execution, enhancing market share, and delivering sustainable long-term value to our shareholders,” Abioye added. The company expects its investments to fuel its long-term expansion plans and support Nigeria’s food security objectives. The company’s growth prospects are linked to its ability to maintain operational efficiency and manage costs effectively. The company’s focus on operational excellence, supply chain efficiency, and new product development is expected to drive its long-term growth and profitability. The investments will also support the company’s goal of deepening local food production, expanding market presence, and contributing to Nigeria’s long-term food security objectives. The company is committed to delivering sustainable long-term value to its shareholders through disciplined execution, operational efficiency, and effective cost management. The company’s growth prospects are expected to be fueled by its investments in manufacturing capacity, new product categories, and production efficiency. The company’s focus on operational excellence, supply chain efficiency, and new product development is expected to drive its long-term growth and profitability. The company is committed to deepening local food production, expanding market presence, and contributing to Nigeria’s long-term food security objectives through its investments and operational efficiency.