Berger Paints reports 67% profit decline, boosts dividend

Berger Paints Plc has said its profit after tax for the 2020 financial year dropped to N146.03 million from N448.73 billion in the previous year.

The company’s profit before tax fell to N210.90 million last year from N533.09 million in 2019, according to its audited financial statements released on Wednesday.

Its revenue, however, grew by seven percent year-on-year to N3.84 billion from N3.58 billion.

The directors proposed a dividend of 40 kobo per share, amounting to N115.93 million, compared to N72.46 million (that is, 25 kobo per share).