The performance was underpinned by robust revenue growth and improved operational efficiency, as demand for bottles and glassware strengthened across key markets.
Revenue for the year climbed to N149.1 billion, representing a 26.83% year-on-year increase from N117.6 billion. The company’s top line was largely driven by domestic sales, which accounted for 96% of total revenue at N143.6 billion, while exports contributed N5.4 billion.
Chief executive officer Alex Gendis attributed the strong showing to “improved production efficiency, effective cost management, and a clear focus on key customers and segments.”
Margin Expansion Lifts Profitability
Despite rising input costs, Beta Glass managed to significantly expand margins. Cost of sales rose modestly by 11.1% to N96.4 billion, far below the pace of revenue growth, resulting in gross profit jumping 71.22% to N52.6 billion.
Operating profit more than doubled to N48.1 billion, supported not only by higher gross margins but also by N3.1 billion in other income and N946.2 million in credit loss reversals. Selling and distribution expenses increased by 21.67% to N412.5 million, while administrative costs rose 28.16% to N8.2 billion.
A notable improvement in foreign exchange management also boosted earnings, with net FX losses narrowing sharply to N135.4 million from N1.7 billion in the previous year.
After accounting for finance income of N10.1 billion and finance costs of N7.5 billion, profit before tax settled at N50.5 billion. Profit after tax came in at N33.2 billion, up 143.97% year-on-year, while earnings per share surged to N55.41 from N22.71.
Balance Sheet Strengthens
The company’s balance sheet also expanded during the period, with total assets rising to N183.8 billion from N134.3 billion. Trade and other receivables made up the largest portion at N72.2 billion.
Total liabilities increased by 26% to N87.6 billion, while retained earnings grew nearly 51% to N93.2 billion, lifting total equity to N96.2 billion—an indication of stronger internal capital generation.
Market Yet to React
Despite the impressive earnings, the stock has remained largely flat on the Nigerian Exchange following the release of the results. However, Beta Glass has posted a year-to-date gain of more than 34%, with its share price currently trading at N498.5.
The muted immediate reaction suggests investors may still be digesting the results, though the company’s strong fundamentals and improved profitability position it favorably for sustained market interest.