BUA Foods Plc slumped by 10% in the equities market as investors sell down their interest in the company. At the close of trading session on Friday, BUA Foods fell to N373.50 per share, lost N747 billion due to a single day sell pressure.
The market recorded that BUA Foods price declined after 128,961 shares valued at more than N48 million were traded on the exchange.
The decline also reduced the company market value by N747 billion to N6.723 trillion at the close of trading session. At the current market price, BUA Foods is trading at fair discount to its 52-week high of N415 in the Nigerian bourse.
In its financial scorecard for 2024, BUA Foods reported multiple earnings per share growth due to significant improvement in its bottom line. The strong net income of N73.409 billion delivered was driven by its hefty top line performance.
BUA Foods doubled down on turnover amidst price adjustments in the Nigerian market. Turnover reached N437.447 billion at the end of 2024 from N204.048 billion in 2023, representing 114% year on year growth.
Its profit after tax which settled at N73,409 billion was 342% higher than N16.594 billion the company posted in 2023. # BUA Foods Slumps as Investors Exit Positions Yield on Nigerian Treasury Bills Falls ahead of Rebase Data.
-Dmarket Forces
