BUSINESS

Berger Paints Records 7% Drop In Profit To N135.6m In 2021

Berger Paints Nigeria PLC which manufactures and markets paint, surface coatings and allied products in Nigeria has released its annual report for the year 31 December 2021with 7% drop in profit after tax to N135.635 million from N146.028 million in 2020.

However, revenue for the year rose by 29% to N4.965 billion from N3.838 billion in 2020.

The directors of the company have proposed a dividend of 40 kobo (2020: 40 kobo) per share on issued share capital of 289,823,447(2020: 289,823,447) ordinary shares of 50 kobo each, subject to approval by the shareholders at the Annual General Meeting.

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