Berger Paints released its 2013 9 months results showing revenue rose 6.4% to N1.9billion (2012 9 Months: N1.8billion). Gross profit also rose 7.5% to N740million holding gross profit margin to 38.5% (2012: 38.1%). Operating expenses also rose 1.5% to N635million still high at 85.7% of operating profit. Pre-tax profit at the end of the year was flat at N227million.
On a quarter on quarter basis Revenue rose to N707million in Q3 at a pace faster that Q2/Q1. In terms of operating profit Q3 was also better than the prior quarters and only falling behind in pre-tax profits due to drop in other income. Berger Paints is struggling with increasing revenue over the last 4 quarters. The company might either have to reduce its cost or search for organic ways of increasing revenues without incurring more operating expenses.
Berger Paints released its 2013 9 Months results in the website of the NSE