Berger Paints Nigeria PLC Demonstrates Resilience Amid Challenges, Promises Stronger Engagement with Capital Market Community
Berger Paints Nigeria PLC (BPN) Plc, a prominent manufacturer of paints and allied products, has reassured the capital market community of enhanced collaboration by committing to regular and transparent communication about the company’s operations and activities. Despite a challenging operating environment, BPN has showcased remarkable financial performance, with a 20 percent surge in revenue and a 142 percent increase in net profit compared to the preceding year.
Key Points:
- Robust Financial Performance:
- BPN reported a 20 percent rise in revenue, from N4.53 billion in September 2022 to N5.42 billion in September 2023. Additionally, the company’s net profit experienced an impressive surge of 142 percent, soaring to N397.8 million in September this year from N164.3 million in the previous year.
- Commitment to Gender Balance and Performance:
- The Chairman of BPN, Mr. Abi Ayida, highlighted the company’s commitment to gender balance, evident at both the management and board levels. This inclusive approach has significantly contributed to the company’s success. Ayida affirmed BPN’s dedication to maintaining transparency by providing consistent and timely information to the capital market community.
- Acknowledgement of CEO’s Leadership:
- Mr. Abi Ayida commended BPN’s Chief Executive Officer, Mrs. Alaba Fagun, for her exemplary leadership, which has been instrumental in driving the company’s transformation over the past year.
- Rebranding and New Outlook:
- The Executive Director, Capital Markets at NGX, Mr. Jude Chiemeka, congratulated the Board and Management of BPN on the company’s rebranding, which includes a fresh logo symbolizing a renewed outlook.
Conclusion: Berger Paints Nigeria PLC’s notable financial performance, despite a challenging business environment, underscores its resilience and forward-thinking approach. The company’s commitment to gender balance and transparent communication with the capital market community reflects its dedication to best practices. The recognition of CEO Mrs. Alaba Fagun’s leadership further solidifies BPN’s position as a dynamic player in the paints and allied products industry.
