Berger Paints sees revenue growth in first-half of 2018

Berger Paints, a leading paint maker in Nigeria, is set to embark on a transformational journey aimed at redefining the way they conduct business within the industry subsector. In a recent interview with CNBC Africa, the newly appointed Chairman, Abi Ayida, shared insights into the company's strategic initiatives and future outlook. Ayida highlighted the company's commitment to innovation and stated that they are focused on building a better 'mouse trap' to stay ahead in the market. The operating environment for paint makers in Nigeria is largely influenced by government policies and the overall macroeconomic climate. With 68 registered paint makers in the country, the sector faces challenges due to its import-dependent nature. Despite these challenges, Berger Paints aims to reduce their reliance on external factors by making significant changes to their business processes. Ayida expressed optimism about the potential for growth and improvement within the industry, emphasizing the importance of forward-looking strategies. When asked about the company's revenue guidance for the upcoming quarters, Ayida emphasized the importance of continuous improvement and sustainable long-term changes. He mentioned that Berger Paints is not content with their current performance and is striving to exceed expectations. By challenging themselves and focusing on delivering value to shareholders and stakeholders, the company aims to achieve exceptional results in the future. In terms of the macro operating environment, Ayida acknowledged that while there have been some marginal improvements, the overall market conditions remain challenging. With the upcoming elections adding to the uncertainty, Berger Paints has proactively planned for potential political risks and is prepared to navigate through any disruptions. Ayida emphasized the company's aggressive strategy to compete more effectively within the existing market conditions and expressed confidence in outperforming industry peers. Overall, Berger Paints' strategic initiatives and forward-looking approach reflect their commitment to driving innovation and sustainable growth. By focusing on operational excellence and staying adaptable in a dynamic business landscape, the company aims to solidify its position as a leader in the paint industry.