Tag: Beta Glass Plc

Beta Glass Plc grows profit by 112% to N2.82 billion in HY 2021.

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Beta Glass Plc released its unaudited financial results for the period ended June 30, 2021.

  • Revenue for the period was N15.58 billion. (+37.4% YoY)
  • Cost of sales was N10.8 billion. (+16.0% YoY)
  • Administrative expenses totalled N916.3 million. (+16.9% YoY)
  • An operating profit of N4.24 billion was recorded. (+214.9% YoY)
  • Profit after tax for the period was N2.82 billion. (+112.5% YoY)
  • Earnings per share of N5.63 kobo Vs N2.65 kobo YoY

See link to results.

Beta Glass Plc announces the appointment of two new directors.

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Beta Glass Plc has announced the appointment of Mr Emmanouil Metaxakis and Mrs Clare Omatseye into its board as directors, with both appointments effective from July 1, 2021.

According to a notice signed by the company’s secretary, Bola Adebisi, and filed with the Nigerian Exchange Group Limited (NGX), Mr Emmanouil Metaxakis was appointed into the Board as Non-Executive Director, while Mrs Clare Omatseye was appointed as an Independent Non-Executive Director.

Profile of the newly appointed directors

Mr Metaxakis is currently Frigoglass Group Chief Finance Officer, having served in various capacities in the company ranging from the Head of Financial Performance, among other roles. Prior to joining Frigoglass Group, he spent five years with Deloitte management consulting. He holds a Bachelor’s Degree in Business Administration from the University of Piraeus, Greece and a Master’s Degree in Corporate Finance from SDA Bocconi, Milan, Italy.

Mrs Clare Omatseye is the Managing Director of JNC International Limited (JNCI), a renowned Turnkey Medical Equipment Solutions Company. She is also the Founder/Chairman of Vaccipharm Limited, a leading vaccine and cold chain distribution company.

Mrs Omatseye sits on the Board of several reputable organizations. She is an alumna of Ahmadu BelloUniversity (ABU) Zaria where she obtained a Bachelor’s degree in Pharmacy. She further obtained an MBA from the University of Navarra (IESE) Barcelona, Spain.

As at the period of reporting this, Beta Glass Plc share price currently trades at N50.10.

 

Beta Glass Plc set to disburse dividend worth N519.97 million to shareholders.

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The Board of Beta Glass Plc has approved the payment of a sum of N519.97 million as dividend to be paid to shareholders for the period ended 31st of December 2020.

The decision is part of the resolutions reached at the recently concluded 47th Annual General Meeting (AGM) of the company, held on the 1st of July, 2021 at Eko Hotels and Suites, Lagos.

Affirming this, a notice signed by the company’s secretary, Bola Adebisi read: ‘’IT WAS RESOLVED that a gross dividend of N1.04k per ordinary share of 50k be and is hereby declared out of the profits for the year ended December 31,2020 to all shareholders registered in the Company’s Books as at the close of business on June 10,2021.’’

Sequel to the approval, Beta Glass Plc will pay out a dividend of N1.04 for each of the outstanding 499,972,000 ordinary shares of the company, held by its shareholders, translating to a gross dividend value of N519, 970,880.

Other decisions reached at the firm’s AGM are;

  • The re-election of Mr. Haralambos David and Ms. Olufunmilola Adefope as Directors of the company were approved.
  • Five persons were elected into the Audit as Shareholders’ and Directors’ representatives.
  • The sum of N1, 125,000 was fixed as annual fees payable to each director for the year.

What you should know:

  • Beta Glass Plc had earlier reported a profit after tax of N3.47 billion in FY 2020, indicating a decline of about 37.9% when compared with the figure declared in similar period last year.
  • Sequel to the approval of a gross dividend payment worth N519.97 million, the company in its FY 2020 report, stated that the sum of N2.95 billion will be transferred to its general reserve.

Beta Glass Plc to hold Annual General Meeting on 1st of July

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The Board of Beta Glass Plc has announced that it will be hosting its 47th Annual General Meeting on the 1st of July, 2021.

This is according to a notification signed by the company’s secretary, Bola Adebisi, and seen by Nairametrics. Sequel to this, the following issues will be discussed;

  • The audited financial statement for the year ended December 31, 2020, and the report of its Directors, auditor, and the audit committee.
  • The firm’s proposed dividend will be considered and approved. It is worthy to note that If ratified, the dividend will become payable on 2nd of July, 2021.
  • Board appointments will also be considered and ratified.
  • To fix remuneration of managers and Directors in FY 2021.
  • To elect shareholders’ representatives of the statutory audit committee.
  • To renew general mandate for related party transactions.

What you should know:

  • Beta Glass Plc had earlier reported a profit after tax of N3.47 billion in FY 2020.
  • In line with CAC guidelines, attendance at the AGM will be by proxy.
  • The link for the Annual General Meeting will be made available on the company’s website: http://www.frigoglass.com/beta-glass-investors/

For more information about the AGM, click HERE.