Business

BUA Foods reports 74.4% revenue growth to ₦729.4bn, proposes ₦5.50 dividend

Published

Saturday, 3 May 2025, 12:26 am

BUA Foods reports 74.4% revenue growth to ₦729.4bn, proposes ₦5.50 dividend 1

BUA Foods reports 74.4% revenue growth to ₦729.4bn, proposes ₦5.50 dividend, The Chairman of BUA Foods, Alhaji Abdul Rabiu, said this at the 3rd Annual General Meeting of the company on Thursday in Abuja. While presenting the Annual Report and Accounts of the company for the financial year 2023, Rabiu said that the company made some progress despite economic challenges.

“Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) increased by 83.6% to ₦215.7 billion from ₦117.5 billion for 2022. Profit for the period grew to ₦112.1 billion amid rising input costs.

“Our earnings per share increased by 22.9% from ₦5.07 in 2022 to ₦6.23 and we are pleased to announce a proposed dividend of ₦5.50 per ordinary share.

“This affirms our commitment to delivering consistent value to shareholders,” he said.

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Rabiu named some of the prominent risks encountered to include supply chain complexities, foreign exchange volatility, rising cost pressures and the imperative of digital transformation.

“We have effectively managed these risks, ensuring operational continuity and mitigating potential disruption.

“We are also focusing on the optimisation of our governance and internal processes to maintain excellence in a fast changing world,” he stated.

The Chairman expressed the commitment of the management to driving product diversification and market expansion while penetrating new markets. He said that the company would further enhance the accessibility of its products on a retail scale while maintaining affordability for customers.

Rabiu said that this would help strengthen the company’s drive to meet human needs for nourishment.

“As we navigate the dynamic business landscape, we are confident in our ability to unlock opportunities, mitigate risks and drive sustainable growth in the years to come,” he added.

While reacting to pleas by shareholders, the chairman pledged to work towards ensuring the provision of scholarships for the children of shareholders.

Rabiu, who reiterated efforts of the management to expand visibility of the company’s products, said the company was working towards being the largest producers of pasta in the country. He said that BUA Foods was committed to supporting the Federal Government and Nigerians by contributing to the moderation of food prices in the country.

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Business

CBN recovers from loss reports N38.8 billion profit in 2024

Published

3 hours ago

May 2, 2025

John

The CBN reported a profit of N38.8 billion after tax in the full year of 2024 from its N1.15 trillion loss recorded in the 2023 financial yr.

read more CBN recovers from loss reports N38.8 billion profit in 2024

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Business

emPLE Unveils BETA Life: A Three-in-One Endowment Plan for Smarter Savings and Protection

Published

6 hours ago

May 2, 2025

John

emPLE Life Assurance Limited has announced the launch of BETA Life, an endowment policy designed to empower Nigerians to grow their wealth, secure their future, and protect what matters most.

In a market where financial uncertainty and underinsurance remain widespread, BETA Life offers a refreshing alternative. The product offers a unique combination of protection and savings in one simple, flexible plan helping Nigerians meet their financial goals while staying protected through life’s uncertainties.

With three cash benefits spread over the policy term, BETA Life helps customers plan for real goals be it education, rent, homeownership, or business without having to wait till the end of the tenure to benefit from their plan.

Speaking on the launch, Rantimi Ogunleye, MD/CEO of emPLE Life Assurance Limited, said:

BETA Life is more than a product; it’s a solution built around the realities of our customers. It’s for the parent who wants to secure their child’s future, the entrepreneur planning ahead, or the individual who wants to save smartly without losing the safety net of protection. We’ve brought together savings and life insurance into one plan, because we believe financial empowerment shouldn’t mean choosing one over the other.

With flexible policy durations and multiple payout points, BETA Life is designed to adapt to a customer’s journey while providing peace of mind. In the unfortunate event of death or permanent disability, the plan ensures that loved ones or the policyholder are financially supported, proving that life insurance can be just as much about living well as it is about preparing for life’s uncertainties.

This launch is a continuation of emPLE’s mission to make life insurance more inclusive, relevant, and empowering, giving more Nigerians the tools to build financial resilience with confidence.

For more information, visit www.emple.group/betalife

About emPLE

emPLE is a leading financial services company dedicated to providing insurance and investment solutions to retail and corporate clients across Africa. At emPLE, our purpose is to empower Africans by providing innovative financial solutions that enhance their freedom, security, and prosperity. We believe that true empowerment comes from providing not just access to financial products but also the knowledge and tools necessary for our customers to make informed decisions and achieve financial independence.

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For more information about emPLE, visit: www.emple.group

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