BUA Cement Plc has recorded a net foreign exchange gain of N16.57 billion in the first half of 2026, a sharp rebound from a gain of just N782.8 million in the corresponding period of 2025 and a foreign exchange loss of N9.70 billion for the full year 2025.

The reversal reflects the relatively stable exchange rate environment following the sharp currency adjustments witnessed in the last two years.

The FX gain significantly boosted the company’s bottom-line, helping to cut net finance costs to N3.41 billion in H1 2026 from N31.37 billion in the same period last year, despite its substantial debt portfolio. Finance income also rose sharply to N18.73 billion, driven by higher interest earnings on cash balances.

On cash flow performance, BUA Cement sustained strong operating momentum despite heavy dividend payouts and aggressive capital investments. Net cash generated from operating activities stood at N278.45 billion, underscoring the company’s robust cash conversion capacity.

Capital expenditure for the period exceeded N60.67 billion, largely channelled into property, plant and equipment as part of its capacity expansion drive. Consequently, property, plant and equipment increased to N1.22 trillion as at June 30, 2026, from N1.18 trillion at the end of 2025. Construction work-in-progress alone rose to about N183.86 billion, reflecting ongoing projects.

The company disclosed that it is progressing with plans to expand its installed production capacity from 17 million metric tonnes per annum to 20 million metric tonnes, including the development of a greenfield cement plant in Ososo, Edo State.

Commenting on the results, the Managing Director/Chief Executive Officer, Engr. Yusuf Binji, said the company remained focused on capturing new growth opportunities while maintaining cost discipline.“We have delivered a strong quarter despite the constraints encountered,” Binji said, noting that growth initiatives and cost optimisation programmes were gaining traction.

He expressed confidence that ongoing process improvements would drive higher productivity and better cost management in the coming quarters.

“I am very encouraged by our outlook and performance over the next quarters,” he added.