Beta Glass reports strong start to 2018 as revenue, profit surge

Beta Glass Plc, said that first quarter sales grew 45% to ₦6.4bn, from ₦4.4bn in the preceding year.

The company which makes glass bottles and metal crowns for the beverage industry and others said that Operating Profit, which measures a business profitability after subtracting Operating Expenses but before interest and taxes surged 48% to ₦1.36bn from ₦916m, helped by the strong sales growth.

Net profit rose 43% in the period to ₦1.1bn.

Beta Glass manufactures, distributes and markets glass bottles and containers to the leading soft drinks, wine and spirit, pharmaceutical and cosmetics companies in Nigeria. The Company has manufacturing plants in Agbara, Ogun State and in Ughelli, Delta State. The firm also exports its products to Ghana, Guinea and Cameroun. Beta Glass Plc is a subsidiary of Frigoglass S.A.I.C, a Greek company which holds 61.9% of the company’s ordinary shares.

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