Beta Glass sees profit increase

In its financial report for 2014, Beta Glass saw an increase in revenue and profits, which were boosted by income from other sources which grew significantly by 571%.

Beta Glass Plc grew revenue by 18% in the financial year 2014 from NGN 14.096 billion in 2013 to NGN 16.630 billion in 2014. While direct cost increased by 12%, operating expenses jumped by 23% from NGN 1.463 billion. Profits for the year were however boosted by income from other sources which grew significantly by 571% from NGN 42.631 million in 2013 to NGN 285.843 million in 2014.
Finance charges increased by 63% from NGN 247.3 million in 2013 to NGN 402.32 million in the year under review. Beta Glass bottom line is green with a 62% increase in after-tax profit from NGN 1.473 billion in 2013 to NGN 2.390 billion in the year under review.
Shareholders await the company’s corporate action given the impressive outing in 2014.