Beta Glass Plc reported revenue of N117.58bn for the financial year ended December 31, 2024, representing an 87 percent increase from the N62.91bn recorded in the previous year.
The company’s unaudited financial statement filed with the Nigerian Exchange Limited recently showed that the surge in revenue contributed to a 117 per cent rise in profit after tax, which stood at N13.96bn compared to N6.44bn in 2023.
Despite the revenue growth, Beta Glass recorded a foreign exchange loss of N2bn, reversing the N1.79bn gain reported in the previous year. The company’s finance costs also increased significantly to N9.46bn from N2.12bn in 2023.
However, interest income rose to N8.12bn, reflecting an improvement from the N2.08bn reported in the previous year. The company’s earnings per share stood at N23.27, up from N10.74 in 2023.
Beta Glass declared a dividend of N839.95m for the period under review, marking an increase from N701.96m paid in the previous year.
Total assets grew to N132.18bn, compared to N106.85bn recorded in 2023.
The PUNCH reported that Beta Glass Plc, a member of the Frigoglass Group, has announced that new members have joined its board of directors.
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