BUA Foods Crosses N4Trn Ahead of Q4 Earnings Release
Traded at N227.50, Consumer Goods Company BUA Foods Plc has crossed N4 trillion in market valuation amidst a strong rally in the Nigerian Exchange. The fast-moving consumer goods company surged to N4.095 trillion as its share price rose to N227.50 ahead of Q4 earnings expectations.
The market price of BUA Foods has been moving slowly even after its earnings release as a devaluation of the Naira shook the industry and consumers’ finances. The improved sentiment in the Nigerian Bourse and the fresh tickers re-rating that cut across key indices has been a major driver of the company market valuation growth.
BUA Foods Plc is expected to release its fourth quarter of 2023 earnings scorecard in February, according to regulatory requirements for companies listed in the local bourse. For the company, there was no information about director dealings since 2022.
MarketForces Africa reported that BUA Foods Plc listed 18 billion shares on the Nigerian Exchange’s first trading day in 2022 at N40 per share by way of introduction. The company became a public company following approval to list on the main board of the Nigerian Exchange.
#BUA Foods Crosses N4Trn Ahead of Q4 Earnings Release BUA Foods Shareholders Get N63 Billion as Dividend