By Alex C
Berger Paints Nigeria Plc has posted a 30.9 % increase in Profit After Tax (PAT) of N251million, from N192 million in December 2012 for the financial year ended December 31, 2013. While the company’s audited results reveal a Pre-Tax profit growth of 25% to N356million, compared to N284million recorded in the corresponding period of 2012, revenue rose by 7.75% to N2.7billion, against the N2.5billion recorded in the corresponding period of 2012.
Berger Paints Nigeria plc is one of the leading manufacturer and distributor of paints and coatings in Nigeria. The company manufactures decorative, industrial, auto refinishes, wood preservers and finishes as well as marine and protective coatings to meet the need of its industrial, commercial and retail end users in the Nigerian market.
Tor Nygard, Managing Director, Berger Paints Nigeria plc, said the result indicates continuous improvements in the company’s operations, characterized by huge investments in product innovation.
According to Nygard, “In spite of the local infrastructure challenges affecting real sector performance, especially power, we are delighted by the significant year-on-year growth of 7.75% and 30.9% achieved in our revenues and profitability respectively. Remarkably, our shareholders’ funds also grew by 37.29% to N2.43billion from N1.77billion in the corresponding period of 2012.”