On May 23, the share price of BUA Cement Plc fell by 10 percent year-to-date despite the company reporting solid growth in its first-quarter profits, raising questions among analysts and investors about underlying market sentiments and broader macroeconomic pressures.
The cement giant, one of Nigeria’s leading manufacturers, announced a 351.4 percent year-on-year increase in profit after tax, driven by improved production efficiency, cost management, and stronger local demand.
Revenue also rose by 80.5 percent, supported by infrastructure expansion and government-backed construction projects.