Beta claims 67% of nation's glass market

Beta Glass Plc has laid claims to control of 65 per cent share of the glass market in Nigeria.According to the Chairman of the company, Sir.

John Ihonor, the company which he described as number one in West Africa is part of the Frigo glass group, a worldwide packaging group presently with 26 factories in 18 countries across the world.

Ihonor who made these disclosures at the company's "Facts Behind the Figures" at the Nigerian Stock Exchange (NSE) maintained that Beta Glass is out to improve its position in the Nigerian and West African market.

Speaking at the occasion, the Managing Director of Beta Glass, Mr. Stephenus Constantinali stressed that in 2001, his company sold a total number of 369,000,000 units of their products in the nation's market.

According to him, Beta Glass performance has been increamental since 1997 when they recorded 10 per cent increase in sales. He said apart from 1999 when 53 per cent increase was achieved, last year's 21 per cent increase could be said to be the best.

He stated that the company aims to achieve a turnover of N6.6 billion in the current year, 2002, adding that their strategy is to build the manufacturer so profitable that its shareholders would be receiving about N256 million as dividends.

On profit after tax, he said their target for 2002 is N1 billion, saying that it hopes to achieve an earning per share of 237k by year end.

600450 Beta claims 67% of nation's glass market glassonweb.com
Date: 28 January 2002
Source: All Africa

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