Tag Archives: Beta Glass Plc

Beta Glass earnings surge 58% in nine months on strong revenue growth

Higher sales boosted net earnings of Beta Glass Plc in the first nine months of 2018.

In the release of its financial results, the company said that net income rose 58% to ₦3.5bn in the periods, January-September, from ₦2.2bn in the same period last year.

Beta Glass names Ayobami Adebisi as new Company Secretary

Beta Glass Plc announced on Thursday the appointment of Ms. Adebola Ayobami Adebisi as its new Company Secretary effective 5 July 2018.

According to the company, Ms. Adebisi will replace Ms. Y. Titi Talabi.

Beta Glass sees growth acceleration continue in the second quarter

Beta Glass Plc reported a strong first half in 2018, a continuation of the growth acceleration begun in the first quarter. The company saw revenue growth of 49% to ₦13.1bn, driven by a 54% sales surge in the second quarter to ₦6.7bn.

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.

Beta Glass ends year on a high

Beta Glass Plc, reported a 16% growth in revenue for its full year results ending in December 2017. Sales rose to ₦22bn from ₦19bn in 2016.

The company which makes glass bottles and metal crowns for the beverage industry said that net profit improved 8.3% to ₦4.1bn from ₦3.8bn in the previous year.

Beta Glass appoints Seun Oni as a Non-Executive Director

Beta Glass Plc, the glass bottle and metal crown maker announced on Wednesday the appointment of Seun Oni as an independent non-executive director of the firm.

According to a statement by the firm, Ms. Oni is a Senior Finance Executive, with over 25 years professional experience spanning Assurance & Business Advisory and leading Financial strategies and processes in
multinational organizations.

Beta Glass nine months profit decline despite sustained revenue growth

Beta Glass Plc reported a 22.7% decline in profit for the nine months to the end of September. Profit dropped to ₦2.2bn blamed on a host of cost increases. This is despite reporting a revenue growth of 12% in the period to ₦14.9bn from ₦13.3bn in the previous year.

The glass bottle and metal crowns company said that the third quarter was particularly challenging for the firm with a 30% increase in cost of sales to ₦4.9bn from ₦3.8bn in the previous year. Selling and distribution expenses also grew 2,371% in Q3 to ₦26m while administrative expenses capped it off, rising 35% to ₦365m.

Beta Glass names Zulikat Wuraola Abiola to board as Non-Executive Director

Beta Glass Plc, announced on Wednesday the appointment of Dr. Zulikat Wuraola Abiola to its board as an independent Non-Executive Director with effect from 6th July 2017.

Dr. Abiola is the Managing Director of Management Transformation Limited (MTL), a management consultancy firm based in Lagos.

In her role at MTL which spans nearly two decades, she overseas business strategy for clients, business development, leadership, governance, organizational development, risk management and public sector policy consulting.

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.