Berger Paints is reporting 1074% rise in profit to NGN113.9 million for the nine months ended in 2017 compared to NGN19.7 million profit recorded in the same period last year.
The paint company recorded higher revenue of NGN2.1 billion against NGN1.7 billion reported in the previous year while gross profit was NGN932.6 million in contrast to NGN717.7 million posted in the year before.
Operating profit also increased to NGN 156.4million in 2017 against NGN7.8 million recorded in the fiscal year 2016 while finance cost was NGN11.1 million against NGN21.1 million in the year before.
Berger Paints said its total assets for the period under review was NGN4.2 billion compared to NGN4.1 billion recorded in 2016 while total liabilities was NGN1.6 billion versus NGN1.4 billion in the last year.
