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    Thursday, May 2, 2019

    Beta Glass Opens Year with 9% Profit Growth

    Beta Glass Plcannounced a net profit growth of 9% for the first quarter of 2019 ending in March. Net earnings rose to N1.24bn from N1.14bn in 2018, driven by 11% revenue growth. Sales grew to N7.2bn from N6.4bn.

    The company’s profit also received a lift from sales and operational management initiatives which saw Selling & Distribution Expenses as well as Administrative Expenses decline by 25% and 31% respectively.
    Also the firm received N242m boost in net finance income, albeit a 16% decline from the previous year.

    Beta Glass is a leading manufacturer of glass bottles for the beverage industry and others. They make beer bottles, spirits bottles, Wine bottles, and pharmaceutical containers among others.

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