Profit statements

BUA Foods boosts profit by 13.74% to N39.3 billion in Q2 2022 as Saratu Umar steps down as independent non-executive director – WorldStage

WorldStage Newsonline– BUA Foods Plc has released its unaudited financial statements for the six months ended June 30, 2022 with a 13.74% increase in group net profit after tax to N39.309 billion from N34.561 billion in the first half of 2021 .

The group’s net profit after tax for the second quarter increased by 14.07% to 14.167 billion naira from 12.420 billion naira in the second quarter of 2021.,308

While revenue for the half year increased to N168.854 billion from N151.731 billion, the second quarter revenue fell to N78.806 billion from N80.805 billion in the second quarter of 2021. 4,931 three months

In a further development, the company’s board had notified the Nigerian Exchange Limited and the general public of the resignation of Saratu Umar as Independent Non-Executive Director due to her recent appointment by the President of the Federal Republic of Nigeria, as Executive Secretary and Managing Director of the Nigerian Investment Promotion Commission.

“As a result, the appointment necessitated his resignation, in accordance with government stipulations as well as global best practice in corporate governance,” the NGX notice read.

“The Board appreciates Saratu Umar’s immense contribution to the company during his tenure as an independent non-executive director.”