BUA Cement Executives Snap Up Shares Worth Over ₦201 Million

BUA Cement Plc has reported fresh insider share purchases by two of its senior executives, with total transactions exceeding ₦201 million, signaling continued confidence in the company’s outlook.

The firm disclosed that its Chief Financial Officer and Executive Director, Chikezie Ajaero, acquired 350,000 shares valued at ₦94.46 million at a unit price of ₦269.9.

Similarly, the Company Secretary and Chief Legal Officer, Hauwa Satomi, purchased 400,000 shares worth ₦107.2 million at ₦268.1 per share. Both transactions were executed on the same trading day.

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The share purchases came amid increased activity on the Nigerian Exchange Limited, where trading volume rose sharply to 2.9 million shares. The stock ended the session at ₦270, reflecting a gain of more than 9 percent.

Market data indicates that these are the first insider transactions recorded by the company this year, reinforcing bullish sentiment among investors. Within the same week, the stock advanced by roughly 20 percent, ranking among the top-performing equities on the exchange.

The rally also contributed to a 5.73 percent uptick in the Industrial Goods Index. On a monthly basis, the stock has surged by over 49 percent, supported by strong trading volumes exceeding 19 million shares.

On a year-to-date basis, the company’s share price has climbed more than 83 percent, lifting its market capitalisation to approximately ₦10.05 trillion, compared to ₦6.04 trillion at the close of the previous year.

The upbeat market performance mirrors the company’s robust financial results. Its audited accounts show that pre-tax profit rose significantly to ₦465.2 billion, marking a 367 percent increase year-on-year.

Revenue expanded to ₦1.179 trillion, largely driven by bagged cement sales, which contributed the bulk of earnings. Domestic operations remained dominant, accounting for nearly all revenue, while export sales contributed a marginal portion.

Although cost pressures persisted, gross profit recorded a substantial increase. At the same time, foreign exchange losses declined considerably, while lower finance costs helped sustain profitability, highlighting the company’s strong financial footing despite prevailing economic challenges.