Berger Paints Nigeria Plc post-tax profit rose by 20.42% to N84.433 million in Q1, 2019 from N70.117 million in the corresponding Q1 of 2018.
The manufacturer of decorative, industrial automotive and marine paints reported a marginal decline of 1.08% in Revenue for the period ended March 31st 2019, arriving at N797.6 million below the previously reported N806.3 million of last same period.
The company’s earnings per share went up by 20.42% to close the current period at 29kobo, in contrast to 24kobo it closed last same period in 2018
The relationship between its equity price and earnings stood at 29.18x with about 3% yield on earnings.
Berger Paints Nigeria Plc, commenced operation in Nigeria on 9th January, 1959 with registration number RC.1837 has grown to be a leader in the Coating and Allied Industry in Nigeria – a legacy inherited from Lewis Berger, the German colour chemist who founded the Berger Paints’ dynasty in London, in 1760.
The company has a reputation for being the first in setting standards in the paint industry in Nigeria, evidenced by its scorecard as presented. It has pioneered a wide range of specialty products that are much sought after in this dynamic and ever-changing market.
Operating in 5 business segments Decorative/Architectural finishes, Industrial coatings, Marine & Protecton coatings, Automotive/Vehicle refinishes, Wood Finishing and Preservers, with a manufacturing plant and main distribution centre in Lagos, over 25 depots/business partners’ outlets, Colour World centres and a countrywide distribution network of dealers in strategic locations spread throughout the country.