Julius Berger 2013 9 Months Results ←
Julius Berger Plc released its 2013 9 months unaudited results posting a revenue of N136.6billion. Gross Profit at the end of the period was N30.8billion compared to N31.4billion in the same period 2012. Pre-tax profit at the end of the period was N7.4billion as no particular growth was recorded year on year.
2013 Three Quarters
Key Highlights [upme_private]
- Revenue dropped by 0.6% or N800million YoY
- The drop in revenue was as a result of a poor third quarter this year. The construction giant posted N40billion this quarter compared to N57billion the quarter before and N53.5billion (June – Sep 2012).
- The drop may be due to accounting requirements as the company may not have recorded revenue this period. They may have contracts tied already but may not be able to book revenues because work is yet to be executed.
- Contract receivable was about N9.5billion more this quarter compared to the end of June 2013
- Despite the drop in revenues margins remained relatively the same
- Loans increased by about N15billion to N24billion this year compared to same period last year. However the loan is being repaid; N6.4billion has been paid between July and September this year already.
- Julius Berger is in our Portfolio and is a stock we like.
- Share price is N75, N2 lower than before the result was announced.
Julius Berger released its 2013 9 Months results in the website of the NSE[/upme_private]