The Board and Management of a leading manufacturer of paints and allied products, Berger Paints Nigeria (BPN) PLC have assured the capital market community of stronger relationship through provision of regular information on the Company’s activities.
Despite the tough operating environment, BPN’s revenue was up by 20 percent from N4.53 billion in September 2022 to N5. 42 billion in September 2023. Its net profit rose by 142 percent in the review period to N397.8 million in September this year from N164.3 million in the preceding year.
Addressing the management of Nigerian Exchange Limited (NGX) and stockbrokers during the closing gong ceremony and introduction of BPN’s Managing Director and Chief Executive Officer, Mrs Alaba Fagun, to the Capital Market Community on NGX, BPN’s Chairman, Mr Abi Ayida, explained that the company sustains good performance, irrespective of the challenges in the operating environment.
He noted that BPN had a gender balance at both management and board level and this has enhanced the company’s performance.
He assured the Capital Market Community that the company would continue to provide regular information to the market in line with the post listing requirements of NGX.
Ayida commended the BPN’s Chief Executive Officer, Mrs Alaba Fagun for her leadership qualities that has transformed the company in the last 12 months.
“Berger Paints has tried to keep up with time. We are forward looking. We operate as a team. I am proud to say that majority of our board members are female and the company is doing very well.
“We have positioned the company to remain competitive. We shall ensure that we provide regular and timely information to the capital market community,” said Ayida.
Corroborating him, Mrs Fagun explained that BPN had embarked on a lot of internal restructuring in the last 12 months which is beginning to yield positive results.
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