Tag Archives: Metal crowns

Avon Crowncaps suspends trading on the Nigerian Stock Exchange

Avon Crowncaps & Containers Nigeria Plc, makers of screwcaps, metal containers and steel drums for a diverse industry including beverage companies (soft drinks producers, juice and dairy makers, brewers and spirits producers) among others announced on Thursday that it was suspending the trading of its shares on the Nigerian Stock Exchange (NSE) effective 31 August 2017.

The company which has seen its fortunes decline over the last five years had sought to buy out its minority shareholders who hold about 21% of the firm’s shares so it can be taken private and restructured.

Avon Crowncaps is majorly controlled by Wilko Corporation, a private company registered in the Bahamas.

Beta Glass reports 13.1% sales growth in six months

Beta Glass Plc, on Friday reported sales of N8.8bn for the first six months of 2017, a 13% increase from the previous year’s revenue of N7.8bn.

The company which makes glass bottles and metal crowns for the beverage industry and others said that operating profit rose 212% to N1.6bn, helped by lower cost of sales which grew marginally by 1.49% to N6.7bn, from N6.6bn.

Beta Glass said it gained N536m in net finance income.

Beta Glass first quarter profit surges as revenue growth fuels strong start to 2017

Beta Glass Plc, on Friday reported its first quarter results for the 2017 financial year, with the glass bottle and metal crowns company posting a profit after tax of N800m, up from N62m declared in the same period in 2016.

The company which has sustained strong sales and profit growth in the last three quarters said that revenue in the first quarter grew 44% to N4.4bn bolstered by a surge in local demand as foreign exchange headwinds force a drop in imports.

Beta Glass maintains momentum as year-end profit surge 91%

Beta Glass Plc, the glass container and metal crowns company on Friday reported its results for the 2016 financial year, with the firm maintaining the same momentum it experienced in the first nine months of the year.

The company said that full year profit grew 91% to N3.8bn, from nearly N2bn in the previous year, driven by a surge in local demand as foreign exchange headwinds force a drop in imports.

Avon Crowncaps posts loss despite strong revenue growth in Q3

Avon Crowncaps & Containers Nigeria Plc, makers of screw caps and metal containers for the beverage industry and others said that revenue for the third quarter (Oct – Dec) rose 67% to N6.4bn, from N3.8bn in the prior period.

However, a higher cost of sales of N5.8bn, an 87% increase from the prior year’s N3.1bn left little gain in the form of operating profit to cover expenses.

Beta Glass sustains profitability as 9-months profit soar 81%

Beta Glass Plc, the glass container and metal crowns company on Thursday reported a profit surge of 81% for the first 9-months of 2016, rising to N2.9bn, from N1.6bn in 2015.

Despite the macroeconomic difficulties hampering the activities of some of its trading partners, Beta glass said that revenue for the 9-months ending 30th September grew 16% to N13.3b, from N11.5bn in the preceding year.

Beta Glass toasts impressive results amid currency headwinds

Beta Glass Plc, the glass container and metal crowns company said on Friday that net profit for the second quarter ending June 30 climbed 140% to N1.4bn, up from N579m a year ago.

The company which manufactures glass bottles for beverage companies among others reported a 32% increase in revenue to N4.7bn, from N3.5bn recorded a year earlier.

Beta Glass seeks reinstatement of Export Expansion Grant

Beta Glass Plc, the glass bottle and container maker for the beverage, pharmaceutical and cosmetics industries is seeking to reinstate the Export Expansion Grant (EEG) by the Federal Government, to enable it export its products and earn much needed foreign exchange.

At the company’s Annual General Meeting (AGM), which held in Lagos recently, Beta Glass declared a net income of N2bn for the 2015 financial-year despite foreign exchange challenges and economic headwinds.

Beta Glass appoints new Directors

Beta Glass Plc, the glass container and metal crowns company based in Agbara and Dubai has appointed new directors to its board.

According to a statement released by the company to the Nigerian Stock Exchange: