Beta Glass Plc has reported a resilient financial performance for the first quarter ended March 31, 2026, sustaining profitability despite declines in revenue and earnings.
The company’s unaudited interim results showed that total equity increased to N104.12bn as of March 31, 2026, up from N96.27bn at the end of 2025, indicating a stronger balance sheet.
However, revenue from contracts with customers fell to N37.54bn in Q1 2026 from N41.16bn recorded in the same period of 2025. Gross profit also declined to N13.70bn from N16.01bn, while operating profit dropped to N12.78bn from N15.05bn.
Profit before tax stood at N11.89bn, down from N15.22bn a year earlier. Profit after tax decreased by 21.48 per cent to N7.85bn, compared to N9.99bn in Q1 2025. Earnings per share also fell to N13.08 from N16.66.
Despite the lower figures, the company remained profitable, supported by disciplined operations and an improved financial structure.
Commenting on the results, Chief Executive Officer Alex Gendis said the performance reflected the company’s resilience amid a challenging business environment.
“Our first quarter performance reflects the resilience of Beta Glass and the strength of our operating model. Despite a challenging and unpredictable environment, we sustained profitability and maintained a strong balance sheet. Our Q1 2026 performance was in line with our expectations,” he said.
Gendis attributed the year-on-year decline largely to stabilisation in customer ordering patterns, compared to the previous year when some major clients built up significant inventory.
“Our focus remains on driving operational efficiency, deepening customer partnerships, and positioning the business for sustainable long-term growth,” he added.
He further noted that the company has strengthened its raw material sourcing and inventory pipeline to ensure steady supply, despite global supply chain disruptions and rising costs.
The unaudited financial statements for the period are available on the company’s website.
Beta Glass manufactures glass packaging solutions for the beverage, pharmaceutical, and food industries across West and Central Africa.
