May 5, 2021

Julius Berger grows assets by 4.9% to N329bn

Flyover Bridges: Rivers State Government, Julius Berger Sign Agreement

Julius Berger Nigeria Plc has displayed resilience against COVID-19 pandemic challenges, and proactively grows its total assets by 4.9 per cent to N329 billion in the financial year ended December 31, 2020 from N317 billion recorded in the corresponding period of 2019.

The Company recorded a stable turnover of N 242 billion and a Profit before Tax of N3.9 billion. With an operational cash-flow of N6 billion, Julius Berger continued implementing strategic investments, amounting to N10 billion within the period.

The figures released by the Securities and Exchange Commission, SEC, indicate that the Company was able to overcome temporary shutdowns of its construction sites in the second quarter of 2020by utilizing its strong base of personnel and capital resources.

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Given the industry-wide disruptive effects of the global covid-19 pandemic and its attendant operational quarantine and slowdown on businesses and supply chains as well as other interplaying scenarios all through the 2020 operating year, it is commendable that Julius Berger still resiliently sustained its well-rooted technical and administrative resourcefulness as well as its financial stability and well being.

Meanwhile, as an indication of its continuing encouraging trajectory of performance, Julius Berger in the first quarter ended March 31, 2021, Q1’21  reported a turnover of N71.2 billion, up by 27.34 per cent from N55.9 billion reported in Q1’2020. Profit before tax grew by 228 per cent to N3.4 billion from N1.1 billion achieved in the first quarter of 2020.

Earnings per share (EPS) of Julius Berger for the period under review increased to N1.52 from the EPS of 72kobo, which translates to 111 per cent growth year on year.

Vanguard News Nigeria