Julius Berger Nigeria Grows Profit by 142%

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Julius Berger Nigeria Plc on Thursday announced that it made a profit of N6.1bn in 2018, up from the N2.5bn recorded in the preceding year.

It disclosed the 142.37 per cent rise in profit in its 2018 annual report, which was presented at the 49th Annual General Meeting of the construction giant in Abuja.

The company said its group revenue also grew by 37.16 per cent, rising from N141.89bn in 2017 to N194.62bn in the year under review.

It also noted that the group’s profit before tax was N10.19bn in 2018, indicating a 172.73 per cent rise when compared to the N3.74bn recorded in 2017.

However, other comprehensive income for the Julius Berger group decreased, as the group posted a comprehensive income of N899.12m, in contrast to N2.21bn in the preceding year. This represented a decrease of 59.27 per cent.

The group’s share capital stayed at N660m for both 2017 and 2018, while its shareholders fund increased by 17.68 per cent to N35.42bn in 2018, up from the N30.1bn in 2017.

The Chairman, Julius Berger, Mutiu Sunmonu, stated that in the light of the success recorded by the company, Julius Berger Nigeria Plc ended the year profitably, adding that “consequently, the board of directors are pleased to recommend a dividend of N2 per 50 kobo share, resulting in a total gross dividend pay out of N2.64bn.”

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