Beta Glass nine-month pre-tax profit falls 6.6% on higher finance costs
Beta Glass Plc, the Nigerian glass bottle maker, reported pre-tax profit down 6.6% to NGN 37.64bn for the nine months to 30 September 2026, as finance costs rose 44.69% and the company booked a foreign exchange loss. Revenue grew 4.98% to NGN 120.08bn, but profit after tax fell 8.44% to NGN 24.93bn and operating cash flow dropped 29.3%.
Why this mattersFinance costs and currency losses, not demand, are squeezing Beta Glass's earnings, while a 65% rise in exports shows the bottle maker finding buyers beyond Nigeria.
- Pre-tax profit fell 6.6% to NGN 37.64bn for the nine months to 30 September 2026, from NGN 40.32bn a year earlier
- Revenue rose 4.98% to NGN 120.08bn from NGN 114.38bn
- Profit after tax dropped 8.44% to NGN 24.93bn, with EPS down to NGN 41.55 from NGN 45.38
- Finance costs rose 44.69% to NGN 8.93bn, producing a net finance expense of NGN 373.56m versus net finance income a year earlier
- Export revenue grew 65.2% to NGN 7.23bn, lifting exports to about 6% of total revenue from 3.8%
- Operating cash flow fell 29.3% to NGN 22.38bn and total borrowings stood at NGN 40.28bn at period end
Sources
thebusinesstimesng.com