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.