Julius Berger Nigeria PLC has announced the appointment of Dr. Mohammed Indimi, OFR, as a Non-Executive Director.
This was disclosed on November 8, 2024, through an official statement published on the Nigerian Exchange (NGX) platform.
The announcement, signed by the company’s secretary, Mrs. Cecilia Ekanem Madueke, revealed that the decision was made during an emergency board meeting on November 7, 2024, and took effect immediately.
Expressing confidence in Dr. Indimi’s extensive experience and proven leadership, the Board of Directors emphasized that his contributions would significantly enhance Julius Berger’s strategic direction and drive the company’s continued growth.
Dr. Mohammed Indimi Profile
Dr. Mohammed Indimi, OFR, is a distinguished Nigerian businessman and philanthropist whose career spans the oil and gas and financial services sectors. A recipient of multiple honorary doctorate degrees from universities within and outside Nigeria, Dr. Indimi is celebrated for his contributions to entrepreneurship and philanthropy.
He has been honored with the Nigerian national title of Officer of the Federal Republic (OFR) and the Republic of Niger’s prestigious Commandeur dans L’Ordre du Merite du Niger.
In addition to his role at Julius Berger, Dr. Indimi chairs the boards of Oriental Energy Resources Limited and M & W Pump Nigeria Limited and serves as a director at Jaiz Bank PLC.
Julius Berger’s Performance
- Julius Berger Nigeria PLC reported a 74.04% year-over-year growth in pre-tax profits for the nine-month period ending September 30, 2024, raising its cumulative pre-tax profit to N26.1 billion and highlighting its strong financial performance and effective operations.
- Alongside its profit growth, the company demonstrated resilience in revenue generation, with revenue rising by 53.03% year-over-year from N105.3 billion in Q3 2023 to N161.2 billion in Q3 2024.
Stock Market Performance
- Julius Berger’s stock has enjoyed strong bullish momentum in 2024, starting the year at N43 with a market volume of 40 million shares.
- It maintained a steady upward movement, closing in positive territory for four consecutive months from March to June before briefly stalling in July.
- August saw a significant rebound for Julius Berger’s stock, which surged by an impressive 76%, supported by a robust market volume of 141 million shares. This performance reflects the company’s solid fundamentals and potential for continued growth.
- Currently, the shares are trading at N164 per share, reflecting market confidence in the company’s performance.
Dr. Indimi’s appointment brings additional expertise to Julius Berger’s leadership as it works to strengthen its market position and improve financial outcomes.
