Berger Paints Posts N1.1bn Revenue in Q1, Launches New Solution
Berger Paints Nigeria (BPN) Plc has recorded a revenue of N1.078 billion for the first quarter ended March 31, 2020, just as the company has set up Berger Swift Painting to deliver quicker, neater and smoother painting.
The solution would be with the use of mechanised and advanced tools.
The revenue for the Q1 2020, was 35 per cent above the N797.622 million posted in the corresponding period of 2019. The company ended the quarter with profit before tax of N97.8 million and profit after tax of N67 million.
Meanwhile, the company has said it expects an improved performance going forward following the launch of Berger Swift Painting, which is expected to carve a niche for BPN’s service delivery and upscale the company’s competitive edge.
Commenting on the development, , Managing Director and Chief Executive Officer, BPN Plc, Mr. Anjan Sircar, explained that the new service was borne out of the company’s ingenuity and constant quest for innovative products and services.
“Berger Swift Painting is a new concept in the Nigerian painting industry. The concept is expected to revolutionise the industry in Nigeria. BPN is the first paint company to offer this novel service in Nigeria. The new service will completely change the process of painting in the country. It will ultimately make project execution quicker, neater and smoother.
You don’t have to worry about paint spillage or dusts on the furniture, there is on-site support to help move and cover your furniture to ensure your space remain neat. Berger Swift Painters are well trained, well kitted and safety conscious. They follow all hygiene protocols to ensure safety of lives and properties. This is more apt at this period of Covid- 19 Pandemic. The painters will properly sanitise their hands and use appropriate nose masks,” he said.
He added that the introduction of Berger Swift Painting Service will solve all the challenges posed by substandard products in the Nigerian paint industry, prolonged duration of painting, dusty environment by delivering quicker, neater and smoother painting.
“The new service from BPN’s stable is expected to bring Nigeria at par with the Western World in the area of quality service delivery,” the MD assured.
Meanwhile, the stock market sustained its positive performance as the Nigerian Stock Exchange (NSE) All-Share Index (ASI) appreciated by 0.34 per cent to close at 25,335.15 points. Similarly, market capitalisation added N44.4 billion to close at N13.2 trillion.
However, activity level was mixed as volume traded advanced 16.6 per cent to 268.7 million shares while value traded declined 48.3 per cent to N1.2 billion.