Beta Glass reported an audited pretax profit of N50.5 billion for the 2025 financial year, a significant increase from the N19.9 billion recorded in 2024.
This growth was mainly supported by stronger revenue, as sales of bottles and glassware rose to N149.1 billion, reflecting a 26.83% increase compared to the previous year.
In addition to revenue, other income, lower foreign exchange expenses, and finance income also supported profitability, with earnings per share rising to N55.41 from N22.71 in the prior year.
Commenting on the results, CEO Alex Gendis stated: “Our performance was driven by improved production efficiency, effective cost management, and a clear focus on key customers and segments.”
- Revenue: N149.12 billion (Up 26.83% YoY from N117.58 billion)
- Cost of sales: N96.45 billion (Up 11.10% YoY from N86.82 billion)
- Gross profit: N52.66 billion (Up 71.22% YoY from N30.75 billion)
- Operating profit: N48.09 billion (Up 104.17% YoY from N23.55 billion)
- Profit before tax: N50.54 billion (Up 153.93% YoY from N19.90 billion)
- Profit after tax: N33.25 billion (Up 143.97% YoY from N13.62 billion)
- Earnings per share (EPS): N55.41 vs N22.71
Driving the numbers
A closer look at the company’s books revealed that local sales accounted for 96% or N143.6 billion of total revenue, while exports made up the rest at N5.4 billion.
- As expected, the company’s cost of sales spiked, reaching N96.4 billion, up 11.1%, leaving gross profit at N52.6 billion, compared to N30.7 billion in 2024.
- Operating expenses also increased, with selling and distribution costs at N412.5 million, up 21.67%, and administrative expenses at N8.2 billion, up 28.16%.
However, the company recorded N946.2 million from credit loss reversals and N3.1 billion from other income, mainly due to transport gains, which supported operating profit at N48 billion, up 104.17%.
- More favorably, the company narrowed net FX losses to N135.4 million, compared to N1.7 billion in the prior year, and after finance income of N10.1 billion and finance costs of N7.5 billion, pretax profit settled at N50.5 billion.
- After accounting for tax of N17.2 billion, post-tax profit stood at N33.2 billion.
On the balance sheet, total assets swelled to N183.8 billion, up from N134.3 billion, with trade and other receivables accounting for the largest share at N72.2 billion.
Total liabilities grew to N87.6 billion, up 26%, while on the equity side, retained earnings increased to N93.2 billion, up 50.97%, bringing total equity to N96.2 billion.
Market reaction
The market is yet to react to Beta Glass’ financial results, as the stock continues to trade flat on the Nigerian Exchange following the release of its audited statements.
However, the company has recorded a year-to-date gain of over 34% on the Nigerian Exchange, with its share price currently standing at N498.5.
