BUA Foods' flour revenue fell 30% to 415.1bn NGN (€274mn) in the first nine months of 2026 on softer demand, while sugar sales dropped 17% and rice 53% because of pricing changes, the company said in its results filed with the Nigerian Exchange. Pasta revenue rose 32% on higher volumes, but group revenue declined 19% to 1.15tn NGN (€756mn), it said.
Analysis: The cost of sales declined 34%, outpacing revenue's fall and helping pre-tax profit grow 11%. BUA attributed weaker flour performance to demand and changes in sugar and rice revenue to pricing, but did not publish enough volume data to separate price from quantity effects. Lower input costs may benefit food manufacturers and retailers, though the company's figures do not establish how much is passed through to buyers. Pasta volumes reportedly increased, highlighting differences across product lines. October inflation data, expected in mid-November, should provide broader evidence on food price trends.
Source: Nigerian Exchange Limited (filings by listed companies), BUA Foods Plc, 9M 2026 earnings press release (filed on NGX, October 30, 2026), January-September 2026; Nigerian Exchange Limited (filings by listed companies), BUA Foods Plc, 9M 2026 earnings press release, January-September 2026