Berger Paints Nigeria Plc recorded a profit before tax of N1.68 billion for the nine months ended September 30, 2026, representing a 14.8% increase from the N1.46 billion posted in the corresponding period of 2025. The figures are contained in the company's unaudited consolidated and separate financial statements for the third quarter.
Revenue climbed 7.4% to N10.01 billion from N9.32 billion, while gross profit advanced 26.6% to N5.22 billion from N4.12 billion. The stronger gross result was driven by a 7.8% reduction in cost of sales to N4.79 billion from N5.19 billion, lifting the gross margin to 52.1% from 44.2%.
The margin gains were partly offset by administrative costs, which jumped 60.5% to N3.46 billion from N2.16 billion. Selling and distribution expenses fell 43.0% to N330.04 million from N579.41 million. Operating profit consequently rose only 5.3% to N1.52 billion from N1.44 billion.
Finance income increased to N223.30 million from N59.30 million, while finance costs rose to N59.91 million from N35.90 million, leaving net finance income of N163.39 million compared with N23.40 million a year earlier. This supported the growth in pre-tax profit.
Income tax expense rose 19.5% to N593.41 million from N496.44 million, holding profit after tax growth to 12.4% at N1.09 billion from N968.01 million. Earnings per share came to 375 kobo, up 12.3% from 334 kobo.
The board declared an interim dividend of 50 kobo per ordinary share, amounting to N144.91 million. The distribution is subject to applicable withholding tax, with a qualification date of November 12, 2026, and payment scheduled for November 20, 2026. Eligible shareholders who have completed e-dividend registration will receive payments electronically.
On the balance sheet, total assets increased 6.3% to N9.64 billion as of September 30, 2026, from N9.07 billion at the end of 2025. Other financial assets rose to N2.65 billion from N1.98 billion, and cash and cash equivalents increased 7.6% to N384.72 million from N357.63 million. Inventories declined to N2.64 billion from N2.75 billion, while trade and other receivables rose to N647.88 million from N468.99 million. Total loans and borrowings fell to N110.54 million from N219.99 million. Financial derivative liabilities stood at N144.44 million, down from N238.19 million.
