Berger Paints’ Nine-Month Pre-Tax Profit Rises 14.8% to N1.68 Billion, Declares Dividend

Berger Paints Nigeria Plc has recorded a 14.8% increase in profit before tax to N1.68 billion for the nine months ended September 30, 2026, compared with N1.46 billion recorded during the same period in 2025.

The growth was supported by higher revenue, improved gross profit margins and increased finance income, according to the company’s unaudited third-quarter financial statements filed with the Nigerian Exchange (NGX).

The company also declared an interim dividend of 50 kobo per ordinary share, amounting to approximately N144.91 million.

The dividend is subject to applicable withholding tax. November 12, 2026, has been fixed as the qualification date, while payment is scheduled for November 20, 2026. Shareholders who have completed their e-dividend registration will receive payments electronically.

Revenue and Profit Increase

Berger Paints recorded revenue of N10.01 billion, representing a 7.4% increase from N9.32 billion recorded in the corresponding period of 2025.

Gross profit rose by 26.6% to N5.22 billion from N4.12 billion, while operating profit increased by 5.3% to N1.52 billion from N1.44 billion.

Profit after tax also grew by 12.4% to N1.09 billion, compared with N968.01 million recorded a year earlier.

Earnings per share increased to 375 kobo from 334 kobo, representing a 12.3% improvement.

Lower Production Costs Support Profit Margins

The improvement in gross profit was supported by a reduction in the company’s cost of sales, which declined by 7.8% to N4.79 billion from N5.19 billion, despite the increase in revenue.

This pushed the gross profit margin to 52.1%, compared with 44.2% in the corresponding period of 2025.

However, the improvement was partly offset by higher operating expenses. Administrative expenses increased by 60.5% to N3.46 billion from N2.16 billion.

Selling and distribution expenses moved in the opposite direction, declining by 43% to N330.04 million from N579.41 million.

Finance income increased significantly to N223.30 million from N59.30 million, while finance costs rose to N59.91 million from N35.90 million.

Consequently, net finance income increased to N163.39 million from N23.40 million, supporting the growth in profit before tax.

Income tax expenses also increased by 19.5% to N593.41 million from N496.44 million, limiting the growth in profit after tax.

Total Assets Rise to N9.64 Billion

Berger Paints’ total assets increased by 6.3% to N9.64 billion as of September 30, 2026, compared with N9.07 billion at the end of 2025.

Other financial assets increased to N2.65 billion from N1.98 billion, while cash and cash equivalents rose by 7.6% to N384.72 million from N357.63 million.

Inventories declined to N2.64 billion from N2.75 billion, while trade and other receivables increased to N647.88 million from N468.99 million.

The company’s total loans and borrowings also declined to N110.54 million from N219.99 million at the end of 2025.

Berger Paints Shares Record Year-to-Date Gains

Berger Paints’ shares closed at N147.60 on September 30, 2026, representing a year-to-date increase of 207.5% from its opening price of N48.

The company’s nine-month results reflect improved production cost management and stronger gross profit margins, although rising administra