Beta Glass Plc. has reported a remarkable increase in profitability during the first quarter of 2025, with a pre-tax profit of N15.2 billion—a staggering 638.64 per cent surge compared to the previous year’s figure of N2.06 billion.
The company attributes this outstanding performance to the booming demand in its core market of glassware and bottle production.
In its unaudited interim financial statements for the quarter ending March 31, 2025, Beta Glass Plc. disclosed a total revenue of N41.1 billion, marking a significant 69.34 per cent increase from N24.3 billion in Q1 2024.
The majority of this revenue was generated from domestic sales, with Nigerian operations contributing N39.6 billion—a substantial 116.26 per cent increase from the previous year—while export revenue stood at N1.5 billion.
Despite a rise in production expenses, with the cost of sales increasing by 21.12 per cent to N25.1 billion, the company’s profitability remained strong. Gross profit surged to N16 billion from N3.5 billion in the prior year, highlighting the robust growth in its top-line performance.
Although administrative expenses also saw a significant rise, reaching N1.5 billion—an increase of 67.29 per cent from Q1 2024—operating profit reached N15.05 billion, up nearly 600 per cent year-on-year.
On the financial front, Beta Glass reported a 62.83 per cent improvement in finance income, amounting to N2.5 billion. Finance costs also increased, albeit at a slower pace, rising by 39.62 per cent to N2.3 billion.
The company’s balance sheet remained strong, with total assets growing to N142.07 billion by the end of March 2025, up from N134.3 billion in the same period last year. Retained earnings stood at N71.7 billion, representing a 16.19 per cent increase year-on-year.
As of May 2, 2025, Beta Glass shares were trading at N109.80, reflecting a year-to-date performance of 69.18 per cent—an indication of investor confidence in the company’s current trajectory.
Overall, Beta Glass Plc.’s impressive financial performance in the first quarter of 2025 underscores its resilience and growth in the glassware and bottle production market. Investors are optimistic about the company’s future prospects as it continues to capitalize on the increasing demand for its products.
