Nigeria’s construction giant, Julius Berger Plc, has released its consolidated unaudited financial result for the first three quarters of the year. The company’s performance during the nine months period is generally impressive. See details.
The company’s revenue increased by 62.2% to N192.2 billion, up from the N118.4 billion that was reported for the first nine months of 2018. The cost of sales, however, leaped by as much as 60.1% to N150.7 billion, up from N94.1 billion in September 2018. Julius Berger’s marketing and administrative expenses for the period also increased by 38.5% and 54.3%, respectively.
The company’s profit before tax for the first nine months of the year is N7.5 billion as against N5 billion last year. This indicates that there was 48.8% increase year to date.
Profit after tax for the period is N5.3 billion, a 56.1% increase when compared to N3.4 billion last as at last September.
Earnings per share attributable to shareholders reduced to N4.86 as against N5.4 billion in September last year.
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The construction company’s share price opened trading at N18.55 on the Nigerian Stock Exchange and is currently trading at N19. Apparently, investors are excited by the financial report.
You may download the report here.