BUACEMENT | BUA Cement FY 2023 Quick Take : FX Losses drag PAT
In its recently released FY 2023 results, BUA Cement reported a 27.4% y/y growth in Revenue to N459.99bn in FY 2023 from N360.99bn in the prior period (FY 2022). Similarly, on a q/q basis, Revenue was up by 8.1% to N124.14bn in Q4 2023 from N114.77bn in Q3 2023. While no information has been provided on the Revenue breakdown, we attribute the company’s top line growth to increases in both price and volume.