Beta Glass Plc (NGX: BETAGLASS) has reported a 334% year-on-year growth in profit after tax for the half-year period ended 30 June 2025.
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The leading manufacturer of glass packaging solutions in its unaudited interim financial statements for the six months period posted a profit after tax of ₦18.70bn, 334% higher than the ₦4.30bn it reported for the half-year period in 2024.
In a press release, the company stated that the strong H1 2025 performance was driven by increased market demand for glass packaging in our key sectors, strategic operational efficiencies and effective pricing, amidst several challenges, persistent inflationary pressures, and rising energy costs.
Speaking on the results, Mr. Alexander Gendis, CEO of Beta Glass, said: “We are very proud of our half year results; delivering double-digit growth in revenue and triple-digit growth in profitability despite a challenging environment. This performance is an affirmation of our market strength across West and Central Africa.” Mr. Gendis further noted the Company’s continued investment in long-term growth drivers, including the deployment of a solar power plant at its Agbara facility in Ogun State, aimed at mitigating energy costs and advancing the Company’s sustainability agenda. “Looking ahead, we remain optimistic about the rest of 2025. We are confident that our focus on operational excellence, sustainable energy investments and expanding our product portfolio will continue to drive value for all stakeholders,” he added.
Statements of Profit and Loss
Beta Glass Plc reported a 63% growth in revenue, rising from ₦47.88bn reported in H1 2024 to ₦78.23bn in H1 2025. The revenue was generated from both local and international sales. The company earned ₦75.32bn (H1 2024: ₦40.36bn) from local sales and ₦2.90bn (H1 2024: ₦2.90bn) from export sales.
Cost of sales increased from ₦37.95bn in H1 2024 to ₦48.85bn in H1 2025, with the highest production cost items being “materials” which consumed ₦18.47bn (H1 2024: ₦14.52bn). This was closely followed by Energy cost amounting to ₦13.82bn (H1 2024: ₦17.14bn).
The Company’s administrative expenses almost doubled, rising from ₦2.18bn in H1 2024 to ₦4.07bn.
Profit Before Tax for H1 2025 stood at ₦27.60bn, 337% higher than the ₦6.31bn reported in H1 2024. The company paid tax amounting to ₦318.70bn (H1 2024: ₦2.00bn).
At the end of the period, Beta Glass Plc posted a profit after tax of ₦18.70bn, 334% higher than the ₦4.30bn reported in H1 2024.
Earnings per share also rose by similar percentage to ₦31.18 (H1 2024: ₦7.18).
Statements of financial position
Total assets as at 30 June, 2025, was ₦169.38n (31 Dec. 2024: ₦134.35bn). Of this, ₦63.35bn was non-current assets while ₦105.02bn was current assets.
Total liabilities as at 30 June, 2025, was ₦87.65bn (31 Dec. 2024: ₦69.56bn). Of this value, ₦32.46bn was non-current liabilities, while ₦55.18bn was current liabilities.
Shareholders equity stood at ₦81.72bn (31 Dec. 2024: ₦64.79bn). The companies retained income grew from the ₦61.74bn on the books as at 31 Dec. 2024, to ₦78.68bn.
Statements of cash flow
Beta Glass Plc generated a net cash of ₦19.95bn in the 6 months period, in H1 2024 ₦10.65bn was generated from the same activity.
A net cash of ₦21.29bn was used in investing activities in the period under review, while a net cash of ₦2.91bn was generated from financing activities.
Cash and cash equivalent at the end of the period was ₦12.40bn (H1 2024: ₦18.58bn).
About the Company
Beta Glass Plc is a leading manufacturer of premium glass packaging solutions for beverage, pharmaceutical and food industries. Headquartered in Lagos, Nigeria, the company operates across nine other African countries, including Ghana, Côte d’Ivoire, Sierra Leone, Liberia, Cameroon, South Africa, and Burkina Faso. Beta Glass also exports to Central and West African markets such as Ghana, Burkina Faso, Ivory Coast, etc., serving both regional and international clients with a strong commitment to quality, innovation, and sustainability.
The Company is a public limited company, listed on the Nigerian Exchange Group (NGX) and incorporated and domiciled in Nigeria. The address of its registered office is 5th Floor, Churchgate Tower 2, Plot PC31, Churchgate Street, Victoria Island, Lagos State, Nigeria.
Beta Glass Plc is a subsidiary of Frigoglass Industries (Nigeria) Limited (the parent Company), which holds 61.9% of the ordinary shares of the Company. The ultimate controlling party is Frigo DebtCo Plc (incorporated in the United Kingdom).
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
