Berger Paints has reported a pre-tax profit of N464 million for the second quarter ended June 2025, marking a strong rebound from the N77 million loss recorded in the same period last year.
This lifted the company’s half-year profit to N945.8 million, up 635% year-on-year, according to its latest financial statement on the NGX.
The main driver of this turnaround was revenue growth, which jumped to N3.1 billion in Q2, a 22.06% increase from N2.6 billion recorded in the corresponding quarter of 2024.
As a result, half-year revenue rose to N6.1 billion, up from N5.01 billion reported in H1 2024.
- The sale of paints and allied products accounted for the bulk of this at N6.03 billion, while contract services contributed N123.1 million.
Also notable was the reduction in the cost of sales, which declined to N1.7 billion in Q2, down 6.26% from N1.9 billion a year earlier.
- This efficiency boost allowed gross profit in Q2 to climb sharply to N1.4 billion, representing a robust 98.21% increase.
Operating expenses rose during the period, with selling and distribution costs up 14.27% to N214 million, and administrative expenses spiking 22.5% to N741.6 million.
- Despite this, operating profit stood at a solid N453.2 million compared to a loss of N68.5 million in Q2 2024.
With finance costs down 24% and finance income at N20.6 million, the company swung back to a pre-tax profit of N464 million, compared to a loss of N77 million a year ago.
- On the balance sheet, total assets grew slightly by 0.81% to N7.58 billion, while retained earnings rose to N3.3 billion from N3.04 billion reported as of December 2024.
Key Highlights (Q2 2025 vs Q2 2024)
- Revenue: N3.1 billion, +22.06% YoY
- Cost of Sales: N1.7 billion, –6.26% YoY
- Gross Profit: N1.4 billion, +98.21% YoY
- Administrative Expenses: N741.6 million, +22.52% YoY
- Operating Profit: N453.2 million, +760.90% YoY
- Pre-tax Profit: N464 million, +702.32% YoY
- Retained Earnings: N3.3 billion, +10.98% YoY
As of market close on the trading day ended July 28, 2025, shares of the company were priced at N31, with a year-to-date performance of 55%.
