Julius Berger Nigeria Plc has announced a Closed Period which would start from today through to January 31st, even as Stanbic IBTC Holdings Plc’ Closed Period, which began on December 1st last year, is to continue until the company’s financial statement is released.
According to separate press statements issued by both companies to the Nigerian Stock Exchange, Julius Berger’s Board Audit Commit members will meet on January 30th “to consider results for the Fourth Quarter ended December 31st, 2018”, even as Board Members of Stanbic IBTC Holdings Plc will meet on the same day for the same purpose.
In light of the foregoing, Julius Berger Nigeria Plc advises all concerned stakeholders to not participate in any form of trading of the company’s securities. Stanbic IBTC Holdings Plc wants its stakeholders to heed same advice.
“This closed period is still ongoing particularly with respect to embargoed persons as contained in the Company’s Personal Account Trading Policy.
Pursuant to the above and in accordance with the provisions of Section 1.2 of the Rules of the Nigerian Stock Exchange (The NSE) relating to Board Meetings and General Meetings of Issuers, we would like to notify The NSE, that a meeting of the Board of Directors of Stanbic IBTC Holdings PLC (the Company) is scheduled to hold on Thursday 31 January 2019 at 10:00am. The meeting will discuss amongst other items, the Company’s Consolidated and Separate Audited Financial Statements for the year ended 31 December 2018.” – Stanbic IBTC
Both companies are expected to report better results compared to 2017
Judging by the third quarter 2018 unaudited financial statements released by both companies, it is safe to assume that their overall performance for 2018 will be better than that of 2017.
Julius Berger Nigeria Plc reported a gross earning of N118.4 billion in Q3 2018, compared to ₦105.4 billion for the same period in 2017. In terms of profit, the company’s PAT for Q3 2018 stands at ₦3.4 billion compared to ₦2.5 billion in 2017.
Similarly, Stanbic IBTC Holdings Plc reported ₦168.8 billion in gross earnings for Q3 2018 compared to ₦154.2 billion for the same period in 2017. Profit wise, the Group reported ₦59.7 million in PAT for Q3 2018 as against ₦37.6 million in Q3 2017.
Brief Overviews of the companies
Julius Berger Nigeria Plc is a leading construction company which was incorporated January 17th, 1970 and listed on the NSE in 1991. It has a market capitalisation of ₦37.4 billion, and its stock is currently trading at ₦28.4 according to the NSE.
Stanbic IBTC Holdings Plc, on the other hand, is a financial services provider which was incorporated on March 14, 2012 and listed on the Nigerian bourse in November of the same year. The company’s market capitalisation is ₦486.4 billion, and its stock is currently trading at ₦47.5.