Beta Glass Plc has published its unaudited financial statements for the period ended September 30, 2025, reporting a Q3 pre-tax profit of N12.71 billion, up 109.4% year-on-year from N6.07 billion.
For the nine-month period, the company recorded a total pre-tax profit of N40.31 billion, up 224.76% from N12.41 billion in the same period last year, continuing its trend of sustained growth and profitability.
A closer look at the company’s financial statements shows that stable revenue, efficient operations, and a turnaround from FX losses to gains drove the improvement.
Key Highlights (Q3 2025 vs Q3 2024)
- Revenue: N36.14 billion, up 13.4%
- Gross Profit: N12.51 billion, up 40.3%
- Operating Profit: N11.93 billion, up 41.7%
- Finance Income: N2.53 billion, up from N2.20 billion
- Finance Cost: N2.38 billion, down from N3.34 billion
- Profit Before Tax: N12.71 billion, up 109.3%
- Profit After Tax: N8.51 billion, up from N3.97 billion
- Earnings Per Share: N14.20, up from N6.63
Driving the Numbers
Beta Glass posted strong Q3 2025 revenue of N36.14 billion, up 13.4% from N31.87 billion a year earlier, driven by steady demand for its glass packaging in beverages, pharmaceuticals, and FMCG.
- The revenue increase was driven by higher sales of glassware and bottles, supported by strong domestic demand, which accounted for over 96% or N34.6 billion of total revenue.
- Export revenue was modest at N1.47 billion.
However, cost of sales rose only 3% to N23.6 billion, allowing gross profit to increase to N12.51 billion, up 40.3% from N8.91 billion in Q3 2024.
- Fuel, electricity, and raw materials remained the main contributors to production costs.
Operating profit grew 41.7% to N11.93 billion, supported by higher income and a lean operating structure, despite administrative expenses rising to N1.95 billion from N1.23 billion.
Stronger finance income and FX gains
Finance income rose to N2.54 billion, up 15% year-on-year, reflecting better cash and investment management. Meanwhile, finance costs fell to N2.38 billion from N3.34 billion, supported by more efficient debt structuring.
Combined with foreign exchange gains of N627.8 million, these net finance gains helped lift profit before tax to N12.71 billion, more than double the N6.07 billion recorded in Q3 2024.
Profit after tax also doubled to N8.51 billion, driven by strong operating leverage and effective cost control.
Balance Sheet Snapshot
Beta Glass Plc’s balance sheet remained strong, with total assets rising 33% year-to-date to N179.2 billion, up from N134.3 billion in December 2024.
This growth was driven by property, plant, and equipment of N68.8 billion, inventories of N25.8 billion, and a stronger cash balance of N17.01 billion.
Total liabilities increased to N88.9 billion from N69.5 billion. Overall, liabilities rose in line with borrowings and trade payables, while shareholders’ equity grew 39.3% to N90.24 billion, supported by strong retained earnings of N87.2 billion, up from N61.7 billion in December 2024.
