Beta Glass’ 9M pre-tax profit falls 6.4% to N37.64 billion as finance costs surge 45%

Beta Glass Plc experienced a 6.39% drop in pre-tax profit to N37.64 billion for the nine months ending September 30, 2026, as finance costs and foreign exchange losses counterbalanced revenue growth. The company's unaudited financial statements, filed with the Nigerian Exchange, revealed a 4.98% increase in revenue to N120.08 billion, compared to N114.38 billion in the same period last year.

However, profit after tax fell by 8.44% to N24.93 billion, down from N27.22 billion, and earnings per share declined to N41.55 from N45.38, despite a positive trend in third-quarter earnings.

Operating profit rose by 1.23% to N39.25 billion, while pre-tax earnings were negatively impacted by increased financing expenses and currency losses. Factory salaries increased by 26.65% to N4.59 billion, whereas fuel, gas, and electricity costs decreased by 5.31% to N23.22 billion. Other income also dropped by 38.82% to N1.98 billion, further straining pre-tax profitability.

Beta Glass saw improved earnings in the third quarter, with pre-tax profit growing by 3.50% to N13.16 billion from N12.71 billion in the corresponding 2025 period. Exports contributed around 6% of nine-month revenue, up from 3.8% a year earlier, while Nigerian Bottling Company accounted for N28.80 billion, or 24% of total revenue.

The company's full-year 2025 pre-tax profit was N50.54 billion, making the latest nine-month result approximately 74% of that figure. Despite a decline in operating cash flow to N22.38 billion from N31.65 billion in the same period last year, the reduction in net debt strengthened the balance sheet, although inventories and receivables highlight the need to convert reported earnings into operating cash.

The company's improvement in third-quarter operating performance could help offset financing costs and foreign exchange losses in future reports.