Beta Glass opens year with 9% profit growth

glass bottle manufacturing

Beta Glass Plc announced a net profit growth of 9% for the first quarter of 2019 ending in March. Net earnings rose to N1.24bn from N1.14bn in 2018, driven by 11% revenue growth. Sales grew to N7.2bn from N6.4bn.

The company’s profit also received a lift from sales and operational management initiatives which saw Selling & Distribution Expenses as well as Administrative Expenses decline by 25% and 31% respectively.

Also the firm received N242m boost in net finance income, albeit a 16% decline from the previous year.

Beta Glass is a leading manufacturer of glass bottles for the beverage industry and others. They make beer bottles, spirits bottles, Wine bottles, and pharmaceutical containers among others.

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