Berger Paints Nigeria Plc ended the 2025 financial year with a strong earnings performance, recording a 102% year-on-year increase in profit before tax of N2.29 billion, driven by higher revenue, better cost control (especially in production and operating expenses)
The paint manufacturer disclosed this in its unaudited financial statements filed with the Nigerian Exchange (NGX) on Wednesday, January 28, 2026.
The results show broad-based growth across revenue, profitability, and balance sheet strength.
What the numbers are saying
Berger Paints’ 2025 financials point to a company benefiting from stronger demand, better pricing, and tighter cost control across its operations.
The combination of higher sales volumes and margin expansion translated into a sharp acceleration in both operating and net profit.
- Group revenue rose by 20% year-on-year to N12.99 billion.
- Gross profit surged by 50% to N5.75 billion, reflecting improved production efficiency and cost management.
- Operating profit almost doubled, rising by 99% to N2.23 billion from N1.12 billion in the prior year.
- Profit after tax climbed by 143% to N1.48 billion, while earnings per share jumped to 512 kobo from 211 kobo.
Overall, the numbers highlight strong operating leverage, with revenue growth translating more efficiently into bottom-line earnings.
More insights
The sharp improvement in profitability was one of the defining features of Berger Paints’ 2025 performance.
- While operating expenses increased in absolute terms, the pace of revenue outstripped cost expansion, supporting margin gains.
- Net finance income improved significantly, rising to N60.18 million from N9.53 million in 2024, providing additional support to earnings.
These factors combined to deliver a 102% increase in profit before tax and reinforced the sustainability of the earnings rebound.
Balance sheet performance
The strong earnings performance was accompanied by notable improvements in Berger Paints’ balance sheet and market valuation.
- Group total assets increased by 23% to N9.25 billion, driven by growth in current assets and higher investment in property, plant, and equipment.
- Total equity rose by 28% to N4.91 billion, supported by retained earnings of N4.13 billion, while net assets per share improved to N17 from N13.
- Berger Paints’ share price closed the year at N48, up 40% year-on-year, lifting market capitalisation to N13.91 billion, a 140% increase from the prior year.
Stock price performance on NGX
The stock closed on Wednesday, January 28, 2026, at N58.90 per share on the NGX. It began the year with a share price of N48.00 and has since gained 22.7% on that price valuation.
Berger Paints is currently the 102nd most valuable stock on the NGX with a market capitalization of N17.1 billion and 290 million shares outstanding, which is about 0.016% of the NGX equity market value.
In 2025, the stock delivered over 100% share price appreciation, rising from about N20 at the beginning of last year to close at N48.00 per share, indicating a 140% increase in price.
What you should know
Berger Paints Nigeria Plc has delivered a steady improvement in financial performance over the past three years, supported by rising demand, improved pricing, and tighter cost management. Revenue growth remained consistent despite inflationary and currency pressures in the operating environment.
- In 2023, the company’s revenue rose to about N7.9 billion, with profit before tax climbing sharply to roughly N800 million. Profit after tax also more than doubled year-on-year.
- The momentum continued through 2024 and into 2025 with interim results showing double-digit revenue growth and a significant jump in profitability.
- Improved operating efficiency and lower costs have positioned Berger Paints on a stronger earnings trajectory.
Berger Paints’ 2025 performance signals improved resilience and competitiveness in Nigeria’s paints and coatings market.
For investors, the results demonstrate that Berger Paints is not just growing revenue, but doing so in a way that meaningfully enhances shareholder value.
