Berger Paints Nigeria Plc has announced its unaudited financial results for the first quarter ended March 31, 2026, showcasing a significant increase in profitability. The company reported a pre-tax profit of N693.1 million, a substantial rise from N469.7 million in the same period last year.

This improved financial performance was primarily fueled by stronger revenue generation. Quarterly sales climbed to N3.3 billion from N2.9 billion in Q1 2025, with paint and allied products accounting for 99% of total sales.

Beyond revenue growth, the company demonstrated effective management of operating expenses. Additionally, other income and net finance income saw a notable increase, contributing to the enhanced bottom-line profitability.

The income statement reveals that paint and allied products generated N3.6 billion, while contract services contributed N21.7 million. Rebates of N276.3 million brought the total revenue down to N3.3 billion.

Cost of sales rose to N1.8 billion from N1.6 billion, largely due to increased costs for raw materials and consumables. Despite this, gross profit improved to N1.5 billion, marking a 22.83% year-on-year increase from N1.2 billion.

Other income, boosted by proceeds from scrap sales, added N23.9 million to the overall performance. Selling and distribution expenses were reduced to N75.7 million from N160.7 million in the prior year.

Operating profit strengthened to N663.2 million, a 43.08% increase year-on-year, after factoring in administrative expenses of N871.9 million. Net finance income also saw a significant jump to N29.9 million from N6.2 million.

These factors combined lifted the pre-tax profit to N693.1 million. Given the absence of tax charges, this figure also represents the post-tax profit.

Earnings per share rose to N1.58 from N1.07 in the corresponding period of 2025. Retained earnings on the balance sheet increased to N4.6 billion from N4.2 billion, indicating profits reinvested within the business.

On the balance sheet, total assets grew to N10.04 billion from N9.06 billion, supported by increases in property, plant and equipment, inventories, and financial assets. Total liabilities increased to N4.5 billion from N4.07 billion, with trade and other payables amounting to N2.3 billion.

Equity improved to N5.4 billion from N4.9 billion, with retained earnings forming the largest component.