Beta Glass reports 23% full year profit rise, thanks to strong sales growth

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Beta Glass Plc reported a net profit growth of 23% for the full year 2018. Net earnings grew to N5 billion from N4.1 billion in the previous year.

The strong profit growth was driven by a 19% rise in revenue. Sales grew to N26.3 billion from N22.1 billion in 2017, helped by a 17% increase in selling and distribution expense. Operating Profit jumped 35% to N5.9bn from N4.4bn in the preceding year.

The company declared a dividend of N1.30 per 50 kobo of ordinary shares to be paid to shareholders which is subject to appropriate withholding tax.

Beta Glass is a leading player in the glass bottle making business for the beverage and other industries – beer bottles, spirits bottles, Wine bottles, and pharmaceutical containers among others.

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