Friday, 11 February 2011 00:00
Strong demand for paint during the yuletide season relative to the previous quarters contributed to the 47% jump in Berger Paints’ net profit for the third quarter ending December 31, 2010. Repairs undertaken in the aftermath of Tropical Storm Nicole also helped to boost sales of the company’s products. The company also benefited from the stable exchange rate, improved efficiencies and a reduction in overhead costs. Net profit for the period came out at $65.8Mn (EPS: $0.31). Net profit for the nine month period is up 10.8% to $78.2Mn. The company continues to focus intensely on the export market which saw a 32% increase in sales during the nine month period.
