BUA Cement Plc (BUACEMENT) recorded strong revenue growth of 40.28% (to NGN360.99bn) in 2022FY. The remarkable performance reflects the increase in sales volume, upward price revision (as inflationary pressures mounted) and market expansion outside Nigeria. Specifically, BUACEMENT was the only listed cement player in Nigeria that recorded an increase in sales volume in 2022 as its volume dispatched increased to 6,300 kilotons in 2022 from 5,400 kilotons in 2021 (driven by added volume from the additional installed capacity of 3 million metric ton per annum from the new line-4 in Sokoto).
