Berger Paints Nigeria Plc records 8.96% increase in 2020 9M revenues

Berger Paints Nigeria Plc reported revenues of N2.66 billion in 2020 (9M), compared to N2.44 billion in the corresponding period of 2019.  

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Key highlights for 2020 9M  

• Revenues increased to N2.66 billion, +8.96% YoY.  
• Revenues from the sale of paints and allied products increased to N2.51 billion, +6.72% YoY. 
• Revenues from contract services increased to N151.53 million, +67.15% YoY.
• The cost of sales increased to N1.66 billion, +25.48% YoY. 
• Administrative expenses increased to N778.77 million, +17.16% YoY. 
• Finance cost increased to N59.31 million, +272.64% YoY. 
• Pre-tax profits decreased to N34.22 million, -89.21% YoY.  
• Earnings Per Share decreased to 8 kobo, –89.19% YoY.  

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Bottom Line

Berger Paints Nigeria Plc recorded increased revenues from its two revenue-generating units. Although companies have generally recorded decreased revenues in the last three quarters mostly due to COVID-19, Berger Paints Nigeria Plc was able to grow its revenues. However, pre-tax profits declined in the period under consideration due to rising costs and expenses.