Beta Glass Plc has recorded a dramatic rise in profitability in the first quarter of 2025, reporting a pre-tax profit of N15.2 billion—an astonishing 638.64 per cent surge compared to N2.06 billion posted in the same period last year. The company attributed this performance to booming demand in its core market of glassware and bottle production.
According to the firm’s unaudited interim financial statements for the quarter ended 31 March 2025, total revenue climbed to N41.1 billion, reflecting a 69.34 per cent increase from N24.3 billion in Q1 2024. The vast majority of this revenue was generated from domestic sales, with Nigerian operations contributing N39.6 billion—up 116.26 per cent from the same period last year—while export revenue was reported at N1.5 billion.
Although the company experienced a rise in production expenses, with the cost of sales increasing by 21.12 per cent to N25.1 billion, this did little to hinder overall profitability. Gross profit surged to N16 billion from N3.5 billion a year earlier, underscoring the strength of its top-line growth.
Administrative expenses, however, also saw a significant rise, reaching N1.5 billion—an increase of 67.29 per cent from N912.3 million in Q1 2024. Despite this, operating profit reached N15.05 billion, up nearly 600 per cent year-on-year.
On the financing front, Beta Glass reported a 62.83 per cent improvement in finance income to N2.5 billion. Finance costs also rose, albeit at a slower pace, increasing by 39.62 per cent to N2.3 billion.
The company’s balance sheet remained robust, with total assets growing to N142.07 billion at the end of March 2025, up from N134.3 billion in the same period last year. Retained earnings stood at N71.7 billion, representing a 16.19 per cent increase year-on-year.
As of the close of trading on 2 May 2025, Beta Glass shares were priced at N109.80, reflecting a year-to-date performance of 69.18 per cent—another indicator of investor confidence in the company’s current trajectory.