Berger Paints’ 9M pre-tax profit rises 14.8% to N1.68 billion, declares dividend

Berger Paints Nigeria Plc reported a profit earlier than tax of N1.68 billion for the 9 months ended September 2026, up 14.8% from N1.46 billion within the corresponding interval of 2025.

This is contained within the firm’s unaudited consolidated and separate monetary statements for the third quarter ended September 30, 2026.

Berger Paints declared an interim dividend of fifty kobo per extraordinary share for the 9 months ended September 30, 2026, amounting to N144.91 million.

The dividend is topic to relevant withholding tax, with a qualification date of November 12, 2026, and funds scheduled for November 20, 2026.

Payments will likely be made electronically to eligible shareholders who’ve accomplished their e-dividend registration.

Key Highlights

Revenue: N10.01 billion (Up 7.4% YoY from N9.32 billion).

Gross profit: N5.22 billion (Up 26.6% YoY from N4.12 billion).

Operating profit: N1.52 billion (Up 5.3% YoY from N1.44 billion).

Profit earlier than tax: N1.68 billion (Up 14.8% YoY from N1.46 billion).

Profit after tax: N1.09 billion (Up 12.4% YoY from N968.01 million).

Earnings per share: 375 kobo (Up 12.3% YoY from 334 kobo).

Driving the numbers

Berger Paints recorded average income progress within the 9 months ended September 2026, with turnover rising by 7.4% to N10.01 billion from N9.32 billion within the corresponding interval of 2025.

However, the stronger efficiency got here from gross profit, which elevated by 26.6% to N5.22 billion from N4.12 billion, supported by decrease manufacturing prices.

Cost of gross sales declined by 7.8% to N4.79 billion from N5.19 billion, regardless of greater income. Consequently, gross profit margin improved to 52.1% from 44.2%, indicating that the corporate retained a bigger share of its income after accounting for direct manufacturing prices.
The enchancment in gross profitability was partly offset by rising working bills, significantly administrative prices, which elevated by 60.5% to N3.46 billion from N2.16 billion.
Selling and distribution bills, nonetheless, declined by 43.0% to N330.04 million from N579.41 million, offering some reduction to working prices.
Despite the stronger gross profit, working profit elevated by simply 5.3% to N1.52 billion from N1.44 billion, reflecting the impression of upper administrative bills on general profitability.
Finance revenue offered extra assist, rising to N223.30 million from N59.30 million, whereas finance prices elevated to N59.91 million from N35.90 million.

This resulted in web finance revenue of N163.39 million, in contrast with N23.40 million within the corresponding interval of 2025, contributing to the 14.8% improve in pre-tax profit to N1.68 billion.

Meanwhile, revenue tax expense rose by 19.5% to N593.41 million from N496.44 million, limiting profit after tax progress to 12.4%, with web profit reaching N1.09 billion from N968.01 million.

Balance sheet

On the steadiness sheet, complete property elevated by 6.3% to N9.64 billion as of September 30, 2026, from N9.07 billion on the finish of 2025.

The improve was supported by different monetary property, which rose to N2.65 billion from N1.98 billion, whereas money and money equivalents elevated by 7.6% to N384.72 million from N357.63 million.
Inventories declined to N2.64 billion from N2.75 billion, whereas commerce and different receivables elevated to N647.88 million from N468.99 million.
Total loans and borrowings declined to N110.54 million from N219.99 million on the finish of 2025, with the September 2026 steadiness categorized totally as present liabilities.
The firm additionally reported monetary by-product liabilities of N144.44 million, down from N238.19 million on the finish of 2025, comprising N109.87 million in non-current liabilities and N34.57 million in present liabilities.

Overall, Berger Paints’ nine-month efficiency mirrored improved gross margins and stronger finance revenue, though rising administrative bills and better tax funds constrained working profit progress and money technology.