Prime Business AfricaBeta Glass closed the first half (H1) of 2025 with N78.23 billion revenue, exceeding the N47.88 billion grossed in H1 2024, representing an increase of 63.37 percent.
This is according to the glass container manufacturer’s unaudited interim financial statements for the six months ended June 30, 2025.
Join our WhatsApp ChannelIn the earnings report, Beta Glass disclosed that the cost of production increased by 28.69 percent to N48.85 billion in the period under review, above the N37.95 billion expended in H1 last year.
As a result, the impact of cost on the company’s turnover reduced from the 79.26 percent cost of sales gulped in H1 2024 to 62.44 percent in the first half of this year.
Also, gross profit increased to N29.38 billion between January and June 2025, compared to the N9.92 billion recorded in the corresponding period in 2024, reflecting a 195.97 percent increase.
Furthermore, Beta Glass recorded N220,92 million as selling and distribution expenses in H1 2025, surpassing the N175.42 million posted in H1 2024.
While selling and distribution expenses increased by 25.93 percent year-on-year, administrative expenses rose by 86.08 percent, from N2.18 billion to N4.07 billion.
The company also reported other income of N1.75 billion for the first six months of this year, rebounding from the N469.22 million recorded in the same period in 2024.
In addition, Beta Glass posted an operating profit of N26.84 billion in H1 2025, exceeding the N7.09 billion notched up in H1 last year, indicating an increase of 278.38 percent.
The manufacturer also reduced its foreign exchange loss by 45.93 percent to N405.72 million within the period under review, compared to the N750.47 million incurred in the first half of 2024.
Additionally, Beta Glass’ finance income increased by 34.48 percent year-on-year, from N3.68 billion to N4.95 billion, while the company’s finance cost climbed marginally by 1.99 percent, from N3.71 billion to N3.79 billion.
The financial statements also showed Beta Glass netted N27.60 billion profit before tax (PBT) in H1 2025, up by 337.31 percent compared to the N6.31 billion the producer realised in the same period last year.
In the same vein, the company’s income tax increased by threefold or 344.27 percent, from N2 billion in the first half of last year to N8.89 billion in H1 2025.
Similarly, profit after tax (PAT) increased by 334.08 percent to N18.70 billion during the review period, surpassing the N4.30 billion posted in the first half of 2024.
Following a robust topline and bottom line, Beta Glass’ total assets increased by 26.07 percent within six months, as it rose from N134.35 billion recorded on December 31, 2024, to N169.38 billion on June 30, 2025.
Total liabilities followed the same path, increasing by 26.01 percent, from N69.56 billion to N87.65 billion between December 31, 2024, and June 30, 2025.
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