Beta Glass Plc recorded a 6.39% decline in pre-tax profit to N37.64 billion for the 9 months ended September 30, 2026, in contrast with N40.32 billion within the corresponding interval of 2025, as larger finance costs and overseas change losses offset progress in working profit.
According to the corporate’s unaudited third-quarter monetary statements filed with the Nigerian Exchange (NGX), income elevated by 4.98% to N120.08 billion from N114.38 billion.
Profit after tax declined by 8.44% to N24.93 billion from N27.22 billion, whereas earnings per share fell to N41.55 from N45.38, regardless of an enchancment in third-quarter earnings.
Beta Glass Finance Costs soar 45%:
Beta Glass recorded a 1.23% improve in working profit to N39.25 billion, however larger financing bills and foreign money losses weighed on pre-tax earnings.
- Finance costs rose by 44.69% to N8.93 billion, whereas finance earnings elevated by 14.26% to N8.56 billion, leading to a web finance expense of N373.56 million in contrast with web finance earnings of N1.32 billion a 12 months earlier.
- Interest expense elevated to N8.85 billion from N5.29 billion, together with roughly N8.57 billion in curiosity on time period loans.
- Interest earnings from related-party borrowings contributed N8.23 billion to the corporate’s finance earnings.
- Foreign change actions resulted in a N1.24 billion loss, in contrast with a N222.15 million acquire within the corresponding interval of 2025.
- Gross profit elevated by 3.25% to N43.25 billion, though gross margin narrowed to 36.02% from 36.63%.
- Cost of gross sales elevated by 5.99%, outpacing income progress, whereas depreciation rose by roughly 66.7% to N7.93 billion.
Factory salaries elevated by 26.65% to N4.59 billion, though gas, fuel and electrical energy costs declined by 5.31% to N23.22 billion. Other earnings additionally fell by 38.82% to N1.98 billion, including to the strain on pre-tax profitability.
Beta Glass Q3 profit rebounds:
Beta Glass recorded stronger earnings within the third quarter, with pre-tax profit growing by 3.50% to N13.16 billion from N12.71 billion within the corresponding interval of 2025.
- Third-quarter income elevated by 11.67% to N40.37 billion, whereas gross profit rose by 21.34% to N15.18 billion, reflecting improved margins.
- Third-quarter gross margin widened to 37.61% from 34.61%, whereas working profit elevated by 15.05% to N13.73 billion.
- Profit after tax rose by 2.94% to N8.77 billion, marking the primary quarter of 2026 through which the corporate recorded year-on-year after-tax profit progress.
- The quarter recorded a web finance expense of N66 million and a overseas change lack of N502.55 million.
- Export income for the 9 months elevated by roughly 65.2% to N7.23 billion, whereas home income rose by about 2.6% to N112.85 billion.
- The quarterly enchancment adopted declines in after-tax profit in the course of the first two quarters, together with a 21.48% decline to N7.85 billion in Q1 and a 4% decline to N8.35 billion in Q2, as beforehand reported by Nairametrics.
Exports accounted for roughly 6% of nine-month income, in contrast with 3.8% a 12 months earlier, whereas Nigerian Bottling Company contributed N28.80 billion, representing 24% of income.
For context, Beta Glass reported a full-year 2025 pre-tax profit of N50.54 billion, which means the newest nine-month consequence represents roughly 74% of that quantity.
Operating Cash Flow declines:
Beta Glass recorded a decline in working money move to N22.38 billion from N31.65 billion within the corresponding interval of 2025, regardless of reporting larger money balances.
- Cash and money equivalents elevated by 27.41% to N25.14 billion, whereas whole borrowings remained broadly unchanged at N40.28 billion, lowering web debt to roughly N15.15 billion.
- Total property elevated by 13.76% to N209.19 billion, whereas shareholders’ funds rose by 21.41% to N116.87 billion.
- Inventories elevated by 36.27% to N31.51 billion, whereas commerce receivables rose by 17.94% to N85.17 billion.
- Related-party receivables stood at N61.21 billion, together with a N48.38 billion mortgage to Packaging Industries (Nigeria) Limited.
- Capital expenditure declined to N6.12 billion from N35.20 billion, whereas the corporate declared a dividend of N7.20 per share, amounting to N4.32 billion.
- The firm’s main shareholders embrace Packaging Industries (Nigeria) Limited, with 61.88%, and Emerald Nigeria Intermediate Holdings B.V., with 8.17%, whereas its reported free float stood at 23.54%.
Although the discount in web debt strengthens the stability sheet, the rise in inventories and receivables highlights the significance of changing reported earnings into working money.
Improvement in third-quarter working efficiency can offset financing costs and overseas change losses in subsequent reporting intervals.
