Julius Berger, Lars Richter
Julius Berger workers on site

The Board and Management of Julius Berger Nigeria Plc, has announced the appointment of Dr. Lars Richter, who will serve under the company as its new Managing Director.

Richter would be replacing Engr. Wolfgang Goetsch, whose exit from the company’s Board of Directors will take effect from October 15, 3018.

In its notice to the Nigerian Stock Exchange (NSE), the company also announced that a new Directorate, Corporate Development would be established to be head by Mr. Tobias Meletschus. He will assume his responsibilities from October 16, 2018.

The newly appointed Directors and Directorate, according to the notice, will bring to bear on their functions as Executive Directors and the future directions of the Group, the wealth of their experience and expertise.

The construction giant, had earlier this month sent a notice to the NSE, hinting at the management changes. It also informed the bourse of a closed period from September 13 2018 to September 27 2018. During a closed period, parties with access to sensitive information are not allowed to trade their shares.

The company’s  financial statements for the second quarter ended June 30, 2018 show revenue stood at N73 billion compared to N70 billion in 2017. Profit before tax was N4 billion as against N55 million in 2017. Profit after tax stood at N2.6 billion as against as against N365 million in 2017.

The stock closed at N25 in yesterday’s trading session on the Nigerian Stock Exchange, unchanged from the prior day. Year to date, the stock is down 10.7%.

 

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