BUA Foods' administrative expenses, coupled with selling and distribution overheads, raised its total operating expenses during the period. Nevertheless, the company managed to bolster its profitability through significant growth in other income and strategic cost management.
Other income for BUA Foods grew by an impressive 1268 percent year on year, settling at ?12.658 billion ($7.91 million). This increase provided an added income advantage, helping to offset some of the rising costs.
However, net finance costs rose sharply in the first half of 2024, up by 65 percent to ?10.406 billion ($6.50 million) from ?6.3 billion ($3.94 million) in the previous year.
This increase was propelled by a spike in finance costs, which surged by 211 percent year on year from ?6.3 billion ($3.94 million) to ?19.6 billion ($12.25 million), excluding losses sustained from exchange rate fluctuations.
