Beta Glass Plc reported a pre-tax profit of N27.6 billion for the first half of 2025. This marks a significant 337 percent increase from the N6.3 billion posted in the same period last year.
According to the company’s unaudited interim financial statements, the glass manufacturer saw revenue climb by 63 percent year-on-year to N78.2 billion, up from N47.9 billion in the first half of 2024. In the second quarter alone, revenue rose by 57 percent to N37.1 billion, compared to N23.6 billion in Q2 2024.
While the cost of sales increased by 29 percent to N48.9 billion, it was significantly outpaced by revenue growth, expanding the company’s gross margin to 38 percent, up from 21 percent in the same period last year.
Key highlight of Beta Glass in H1 2025
Liquidity also stood out as a key highlight, with the company posting a current ratio of 1.90. Beta Glass generated approximately N20 billion in net operating cash flow during the period but spent N21.3 billion on capital expenditure. To bridge the funding gap, it secured N34.8 billion in new bank loans, while making repayments totaling N30.3 billion in both principal and interest.
Domestic sales continued to dominate the company’s revenue mix. In H1 2025, 96.3 percent of total revenue—roughly N75.3 billion—came from sales within Nigeria, while export revenue declined sharply to N2.9 billion, or 3.7 percent of total revenue. This marked a significant drop from H1 2024, when exports accounted for 16 percent, or N7.5 billion, of total sales.
Customer concentration remained high, with four unnamed buyers accounting for 70 percent of total sales in the first half of the year.
Beta Glass shares closed at N374 on July 30, up 476 percent year-to-date, reflecting investor confidence in the company’s strong financial performance and profitability momentum.
