Berger Paints Nigeria Plc has reported pre-tax profit growth of 25% to N356million, compared to N284million recorded in the corresponding period of 2012.
The company’s audited results for the financial year ended December 31, 2013 shows that profit after tax equally increased by 30.9% to N251million, from N192 million in December 2012. Revenue rose by 7.75% to N2.7billion, against the N2.5billion recorded in the corresponding period of 2012.
Berger Paints Nigeria plc is one of the leading manufacturer and distributor of paints and coatings in Nigeria. The company manufactures decorative, industrial, auto refinishes, wood preservers and finishes as well as marine and protective coatings to meet the need of its industrial, commercial and retail end users in the Nigerian market.
While commenting on the result, Tor Nygard, Managing Director of Berger Paints Nigeria plc, said the result is indicative of continuing improvements in the company’s operations, characterized by huge investments in product innovation and a state of art paints and coatings manufacturing machinery. “In spite of the local infrastructure challenges affecting real sector performance, especially power, we are delighted by the significant year-on-year growth of 7.75% and 30.9% achieved in our revenues and profitability respectively. Remarkably, our shareholders’ funds also grew by 37.29% to N2.43billion from N1.77billion in the corresponding period of 2012.”
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