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

Berger Paints Nigeria Plc recorded increased revenues from its two revenue-generating units. 

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

READ: Cadbury Nigeria Plc: Decline in domestic and export sales depletes revenue

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.  

READ: Total Nigeria Plc records 344% rise in PAT for Q3 2020

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.

Adeyemi holds a PhD in Accounting Sciences. He has worked in the Educational Sector and as an Independent Consultant.

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Rak Unity Petroleum Company Plc Posts N63 million loss in 2020 FY results

Rak Unity Petroleum Company Plc reported revenue of N1.41 billion representing a 68.14% decline from the N4.42 billion revenue reported a year earlier.

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Rak Unity Petroleum Company Plc released its 2021 FY results reporting total revenue of N1.41 billion representing a 68.14% decline from the N4.42 billion revenue reported a year earlier.

  • Operating expenses during the year was N149.65 million in 2020 compared to N221.89 million in 2019. –32.56% YoY
  • The company reported a loss after tax of N63.02 million in 2020 compared to N14.52 million loss after tax in 2019.
  • It reported a loss per share of N1.11  in 2020 compared to N0.26 loss per share reported in 2019.
  • No dividend announcement was made in their press release.
  • The company share price of N0.30 unchanged YTD.

See link to results here

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Conoil posts 23% post-tax profit decline in 2020 FY results

Conoil Plc reported a revenue of N117.47 billion representing a 15.95% decline from the N139.76 billion revenue reported a year earlier.

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Conoil Plc released its 2021 FY results reporting revenue of N117.47 billion representing a 15.95% decline from the N139.76 billion revenue reported a year earlier.  

  • Operating expenses during the year was N7.64 billion in 2020 compared to N9.68 billion in 2019. 20.9% YoY 
  • The company reported a profit after tax of N1.52 billion in 2020 compared to N1.97 billion in 2019. –22.97% cut YoY.  
  • It reported an earnings per share of 219 kobo in 2020 compared to 284 kobo earnings per share reported in 2019. 22.89% YoY. 
  •  No dividend announcement was made in their press release. 
  • The company share price of N20.85, up +0.72% YTD. 

See link to results here

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