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Berger Paints Nigeria plc Profit Dips by 76.66%

Berger Paints Nigeria Plc has witnessed a drop in its earnings for the full-year ended December 2020.

This is according to the unaudited group accounts forwarded by the firm to the Nigerian Stock Exchange.

The paint firm recorded a 6.86 per cent revenue increase of N3.83bn for the 2020 financial period from N3.58bn in the corresponding period of 2019.

It recorded N197.41m as operating profit in 2020, down from N512.92m recorded in 2019, representing a reduction of 61.51 per cent.

The firm’s profit before tax dipped to N154m in 2020, from N533m at the end of the 2019 financial year.

Its profit after tax reduced by 76.66 per cent to N104.72m from N448.73m recorded in 2019.

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