Berger Paints has released its audited 2025 financials on the Nigerian Exchange, posting a pretax profit of N2.4 billion, marking a 116.43% year-over-year increase.
Strong top-line performance drove this growth, with total sales rising 19.93% to N12.9 billion, up from N10.8 billion in 2024, reflecting solid demand across the business.
Paints and allied products accounted for the bulk of revenue at N15.8 billion, though discounts and rebates of N2.8 billion reduced effective sales to N12.9 billion.
Despite rising costs, the company grew profits, boosting EPS from N2.11 to N5.42, with a final dividend of N1.25 per 50k share payable May 21, 2026.
Key Highlights (2025 vs 2024)
- Revenue: N12.99 billion (Up 19.93% YoY from N10.83 billion)
- Gross profit: N5.72 billion (Up 48.81% YoY from N3.84 billion)
- Operating profit: N2.34 billion (Up 109% YoY from N1.11 billion)
- Profit before tax: N2.44 billion (Up 116.43% YoY from N1.13 billion)
- Profit after tax: N1.57 billion (Up 157% YoY from N610.86 million)
- Earnings per share (EPS): N5.42 vs N2.11
Driving the Numbers
An in-depth look at the company’s books shows that the cost of sales rose to N7.2 billion, up 4% from N6.9 billion in 2024, alongside growing revenue.
- Raw materials and consumables accounted for the bulk of costs at N6.27 billion, largely unchanged from N6.26 billion in the prior year.
- After accounting for these costs, gross profit settled at N5.7 billion, up from N3.8 billion the previous year.
- Other income totaled N61.7 million, mainly from property leases and scrap sales.
However, selling and distribution expenses increased 3.53% to N713.9 million, while administrative expenses rose 26.15% to N2.7 billion, resulting in an operating profit of N2.3 billion, compared to N1.1 billion previously.
Net finance income of N97.9 million, added to operating earnings, produced a pretax profit of N2.4 billion, and after N872.4 million in taxes, post-tax profit settled at N1.5 billion versus N610.8 million in 2024.
On the balance sheet, total assets grew to N9.06 billion from N7.5 billion, with inventory of N2.7 billion and property, plant, and equipment of N2.6 billion as the largest asset classes.
Total equity rose 30.43% to N4.9 billion, driven mainly by retained earnings of N4.2 billion, while total liabilities stood at N4.07 billion, led by trade and other payables of N2.05 billion.
Market reaction
As of mid-trading on 2nd March 2026, shares of Berger Paints are currently flat on the Nigerian Exchange, showing no significant movement despite the company’s positive financial results.
However, year-to-date, the stock has gained over 58%, with total market volume already exceeding 20 million shares traded.
