Beta Glass: ₦15.3bn Investments Fuels 28% Job Growth Over Five Years

Leading glass container manufacturer in West and Central Africa, Beta Glass, has revealed that its strategic ₦15.3 billion investment in 2019, has grown from ₦7.81 billion to ₦12.39 billion within five years of operation, and also yielded a 28 per cent increase in employment, creating over 217 new jobs and bringing its workforce to 1,400 within the year in view.

In a statement by the company, it revealed that between 2019 and 2023, Beta Glass’ revenue also surged by 118 per cent to ₦67.36 billion, and shareholder’s equity rose to ₦52 billion in 2023.

“Beta Glass has long stood as a beacon of excellence in the glass container manufacturing industry across West and Central Africa. With an unwavering commitment to innovation, sustainability and economic growth, Beta Glass has established itself as a true industry leader.

“From its strategically located manufacturing facilities in Nigeria’s Delta and Ogun States, Beta Glass consistently delivers high-quality products while achieving sustainable financial performance.

“At these locations, the Company operates three furnaces, which gives Beta Glass the significant competitive advantage of being able to produce glass in three colours simultaneously: Flint, Amber and Green.

“Over the past five years, the Company has greatly expanded its production capabilities, significantly contributing to the Nigerian economy and community.

“In terms of our financial performance, Beta Glass has experienced significant financial growth, reinforced by its strong revenue figures and capital expenditures (Capex) during these five years (2019 to 2023), reflecting the Company’s efforts to expand and modernise its operations.

“These investments, totalling over ₦15.3 billion, have been instrumental in upgrading infrastructure, enhancing production capacity, and maintaining the Company’s competitive edge and leadership in the glass container manufacturing industry.

“Over the last five years, Beta Glass Plc has demonstrated consistent financial growth and resilience, reflecting its solid position in the glass container manufacturing industry.

“From 2019 to 2023, the Company saw its revenue (VAT inclusive) surge by over 118 per cent, climbing from ₦30.77 billion in 2019 to ₦67.36 billion in 2023.

“This significant revenue growth indicates increased demand for its products and the Company’s ability to adapt to market trends and expand its market share across key sectors.

“Gross profit followed a similarly upward trajectory, growing from ₦7.81 billion in 2019 to ₦12.39 billion in 2023, underscoring Beta Glass’ focus on operational efficiency and cost management.

“Beta Glass consistently maintained a solid operating profit in terms of profitability, with a peak of ₦7.85 billion in 2021. The Company closed 2023 with a profit before taxation of ₦9.44 billion, highlighting its robust financial health despite market volatility.

“This growth has positively impacted shareholders, as reflected in the steady rise in shareholder equity, which reached ₦52 billion in 2023, up from ₦34.56 billion in 2019.

“Beta Glass Plc income tax contributions demonstrate its role as a responsible corporate citizen. In 2023, the Company paid ₦2.71 billion in income tax, up from ₦2.67 billion in 2019.

“These taxes contribute to Nigeria’s fiscal budget, helping to fund essential public services and infrastructure development. Consistent tax payments from companies like Beta Glass are critical to supporting economic stability, boosting government revenue, and fostering sustainable growth in the Nigerian economy.

“In terms of workforce, as part of its overall investment in Nigeria and its people, Beta Glass has been consistently expanding the workforce, thereby contributing to job creation and economic stability.

“The progress is evident in the Company’s employee headcount growth, which increased from 1,183 employees in 2019 to approximately 1,400 in 2024.

“This steady increase in employment underscores the Company’s role as a significant employer in the region, currently providing stable and rewarding job opportunities for more than 1,400 individuals, most of whom are recruited from the local communities hosting the Beta Glass facilities.”