Finance

Julius Berger posts N71.2b turnover, Q1 profit rises to N2.8bn

Julius Berger Plc has posted a turnover of N71.2 billion in its first quarter (Q1) operations, as against N55.9 billion achieved in the corresponding period in 2020.

The firm’s unaudited result showed 27.34 per cent increase in turnover from N55.9 billion to N71.2 billion while PBT grew by 228 per cent to N3.4 billion from N1.1 billion recorded in 2020.

Its earnings per share within the period increased to N1.52 from 72 kobo recorded in 2020, translating to 111 per cent growth year on year.

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The figures indicated that the company was able to overcome the temporary shutdowns of its construction sites in the second quarter of 2020 by utilizing its strong base of personnel and capital resources.

Given the industry-wide disruptive effects of the global covid-19 pandemic and its attendant operational slowdown on businesses and supply chains all through the 2020 operating year, the company resiliently sustained its well-rooted technical and administrative resourcefulness as well as its financial stability and wellbeing.

Speaking to the trajectory of the share value of the company, market experts argued that looking at the increasing operational scope or work portfolio of the company, its widely experienced board and management team, and based on resilient business history, the business outlook or trajectory for Julius Berger reasonably assures all stakeholders of better days ahead for the company.

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The company’s investors understandably remain upbeat on the performance of Julius Berger on the floor of the Nigerian Exchange limited.

Julius Berger notified stakeholders last year of its diversification into the agro-processing sector. This means venturing into a sub-sector purely different from its core construction business.

According to the company, the diversification move proposes to boost the company’s earnings going forward.

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Julius Berger has been listed on the Nigerian Stock Exchange since 1991 and the engineering construction business is at the heart of the Julius Berger Group’s enterprise.

Guardian

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