An analysis of the firm's results showed
The Managing Director/CEO of
He explained that the company's performance was buoyed by an increase in production capacity from five million metric tonnes at the end of first quarter of last year to the present eight million metric tonnes; strong product differentiation strategy and a growing distribution network across existing and new markets.
The BUA boss contended that the company's performances epitomised the effect of further growth in output but, most importantly, a growing appreciation of the value and service offering, which has impacted well on its customers in the market place.
He said its sales revenue increasing by 25.1 percent year-on-year to N54 billion is a strong testament to the brand's market position.
Binji said: 'The turn of the year witnessed the achievement of a major milestone, with the completion of listing requirements of the NSE, emerging the third-most capitalised company on the exchange, with a market capitalisation of N1.2 trillion (
Subsequently,
He agreed that the outbreak of the pandemic would have broader ramifications to the world and the global economy.
Nationally, Binji further explained,
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