Beta Glass Plc reported a decline in pre-tax profit to ₦37.64 billion for the nine months ended September 30, 2026, as higher finance costs and foreign exchange losses weakened earnings despite growth in revenue and operating profit.
The company’s profit before tax fell from ₦40.32 billion recorded in the corresponding period of 2025, representing a 6.6% decline based on the reported figures.
According to the company’s unaudited third-quarter financial statements filed with the Nigerian Exchange, revenue increased by 4.98% to ₦120.08 billion from ₦114.38 billion a year earlier.
However, profit after tax dropped by 8.44% to ₦24.93 billion from ₦27.22 billion, while earnings per share declined to ₦41.55 from ₦45.38.
The pressure on earnings came largely from rising financing expenses and adverse currency movements.
Finance costs increased by 44.69% to ₦8.93 billion from ₦6.18 billion, while finance income rose by 14.26% to ₦8.56 billion from ₦7.49 billion.
Consequently, the company recorded a net finance expense of ₦373.56 million, compared with a net finance income of ₦1.32 billion in the corresponding period of 2025.
Foreign exchange movements also weighed on performance, with the company recording a loss of ₦1.24 billion, compared with a gain of ₦222.15 million a year earlier.
Despite these pressures, operating profit increased marginally by 1.23% to ₦39.25 billion from ₦38.78 billion, while gross profit rose by 3.25% to ₦43.25 billion from ₦41.89 billion.
However, cost of sales grew faster than revenue, rising by 5.99% to ₦76.83 billion from ₦72.49 billion, reflecting continuing pressure on production costs.
A geographical breakdown of revenue showed that domestic sales remained the company’s largest income source, contributing ₦112.85 billion, representing a 2.6% increase from ₦110 billion.
Export revenue, however, recorded stronger growth, rising by 65.2% to ₦7.23 billion from ₦4.38 billion. Exports accounted for approximately 6% of total revenue, compared with 3.8% in the corresponding period of 2025.
The company also recorded weaker operating cash flow, which declined by 29.3% to ₦22.38 billion from ₦31.65 billion, indicating reduced cash generation from its business operations.
Meanwhile, Beta Glass’ total borrowings stood at ₦40.28 billion at the end of September, slightly below the ₦40.41 billion recorded at the end of December 2025.
For the third quarter alone, the company recorded an improvement in performance, with revenue rising by 11.67% to ₦40.37 billion from ₦36.15 billion.
Profit before tax increased by 3.5% to ₦13.16 billion from ₦12.71 billion, while profit after tax grew by 2.94% to ₦8.77 billion from ₦8.52 billion.
Beta Glass manufactures glass bottles and containers for the beverage, pharmaceutical, food and cosmetics industries, with manufacturing operations in Agbara, Ogun State, and Ughelli, Delta State.
