Beta Glass Plc grew first-half revenue 1.9 percent to N79.71 billion, but profit after tax fell 13.6 percent to N16.16 billion as rising input costs, foreign exchange losses and finance charges ate into margins.
Second-quarter revenue jumped 13.8 percent to N42.18 billion from N37.07 billion, lifting the half-year total. Cost of sales rose 5.7 percent to N51.64 billion, pulling gross profit down 4.5 percent. A foreign exchange loss of N738.14 million, nearly double the prior year’s, combined with finance costs that climbed to N5.95 billion from N3.79 billion, dragged profit before tax down 11.3 percent to N24.48 billion.
“Our 13.8 per cent revenue growth in Q2 2026 was supported by sustained customer demand both locally and from export sales,” said Chief Executive Officer Alex Gendis. “Our underlying cost base remains well managed, but higher inbound logistics and input costs weighed on margins during Q2 2026. Going forward, our dynamic pricing model will account for these factors.”
Gendis also pointed to the comparative base. Several key customers frontloaded orders early in 2025, he said, creating an unusually strong prior-year benchmark; adjusting for that, the company is trading ahead of its internal full-year targets.
The results land against a wider Nigerian manufacturing cost story. Naira volatility and import-dependent raw materials have squeezed margins across the beverage supply chain even as revenue lines recover, and Beta Glass, which imports much of its raw material and carries foreign-currency borrowings, sits close to the centre of that exposure.
The company’s largest disclosed customer relationship underlines how directly that exposure flows downstream. Sales to Nigerian Bottling Company, Coca-Cola’s Nigerian bottler, totalled N19.01 billion in the period, roughly a quarter of total revenue. Glass cost pressure at Beta Glass is, in effect, an input cost pressure for the brewers and bottlers it supplies.
Ownership has also shifted underneath the numbers. In February, Frigoglass Group sold its controlling stake in Beta Glass’s parent to Helios Investment Partners, and the parent company was renamed Packaging Industries (Nigeria) Limited the following month. Whether the new owner pushes a different capital allocation approach, and whether Gendis’s promised pricing adjustments actually restore margin in the second half, will shape Beta Glass’s next results more than this period’s revenue line did.
READ MORE
