Beta Glass Plc has released its interim financial statements for the first quarter ended 31st March 2025, reporting a pre-tax profit of N15.2 billion.
This marks an increase of 638.64% from N2.06 billion in the same period last year—driven primarily by strong revenue growth.
Revenue, constituted entirely by the company’s core business of glassware and bottle sales, rose to N41.1 billion in the first quarter of 2025, marking a 69.34% increase from N24.3 billion in Q1 2024.
- Regionally, sales within Nigeria accounted for the bulk of this revenue at N39.6 billion, up 116.26% from the previous year, while export revenue stood at N1.5 billion.
The cost of sales also rose, reaching N25.1 billion, a 21.12% increase from N20.7 billion in Q1 2024.
- Despite this, gross profit increased to N16 billion, compared to N3.5 billion a year earlier.
Less favorably, administrative expenses grew to N1.5 billion, a 67.29% increase from N912.3 million in the corresponding period last year.
- Nonetheless, operating profit rose to N15.05 billion, up 597.02% year-over-year.
Also reported, finance income improved to N2.5 billion, a 62.83% increase, while finance costs rose to N2.3 billion, up 39.62% from the same period in 2024.
As of the end of the quarter, total assets stood at N142.07 billion, compared to N134.3 billion in Q1 2024. Retained earnings also increased to N71.7 billion, up 16.19% year-over-year.
Highlights:
- Revenue: N41.1 billion, +69.34% YoY
- Cost of sales: N25.1 billion, +21.12% YoY
- Gross profit: N16 billion, +352.52% YoY
- Administrative expenses: N1.5 billion, +67.29% YoY
- Operating profit: N15 billion, +597.02% YoY
- Pre-tax profit: N15.2 billion, +638.64% YoY
- Retained earnings: N71.7 billion, +16.19% YoY
As of the trading day ended 2nd May 2025, Beta Glass was priced at N109.80, with a year-to-date performance of 69.18%.
