Julius Berger Nigeria Plc reported a pretax profit of N9.8 billion for Q1 2026, according to its financial statements filed on the Nigerian Exchange.
This marks a 66.10% increase from the N5.9 billion recorded in Q1 2025, supported by a strong revenue base, reduced costs, and notable investment income during the period.
Revenue for the quarter came in at N177.5 billion, slightly below N180.5 billion, with civil works contributing 63.4%, building works 22.2%, and Africa accounting for 92.7% regionally.
Backed by N4.8 billion in investment income, profitability remained firm, while on the balance sheet, retained earnings rose 37.81% year-on-year to N86.3 billion, strengthening the company’s overall financial position.
Key Highlights (Q1 2026 vs Q1 2025)
- Revenue: N177.5 billion vs N180.5 billion
- Cost of sales: N148.9 billion vs N153.1 billion
- Gross profit: N28.6 billion, up 4.60% YoY
- Administrative expenses: N17.9 billion vs N22.6 billion
- Operating profit: N6.09 billion, up 95.50% YoY
- Investment income: N4.8 billion, up 29.71% YoY
- Pretax profit: N9.8 billion, up 66.10% YoY
- Retained: N86.3 billion, up 37.81% YoY
Driving the numbers
A closer look at the revenue of N177.5 billion shows civil works contributed N112.6 billion, down from N125.1 billion, and remained the primary driver of the overall decline.
- Building works generated N39.4 billion, while services contributed N24.5 billion, with diversification efforts adding N917.5 million to support the broader revenue mix.
Mirroring the drop in revenue, cost of sales declined to N148.9 billion from N153.1 billion, lifting gross profit modestly to N28.6 billion from N27.4 billion in the prior period.
- Other gains rose to N136.9 million, reflecting an 82.05% year-on-year increase, largely driven by miscellaneous income and proceeds from property disposals.
- Administrative expenses were reduced to N17.9 billion from N22.6 billion, helping offset rising operating costs and supporting an operating profit of N6.09 billion, up from N3.1 billion.
Beyond this, investment income of N4.8 billion further supported profitability, although this was partly offset by finance costs of N1.1 billion during the period.
Consequently, pretax profit jumped to N9.8 billion from N5.9 billion, but after accounting for tax expenses of N7.3 billion, profit after tax declined to N2.4 billion from N3.5 billion.
Balance sheet
On the balance sheet, total assets stood at N1.07 trillion, slightly up from N1.05 trillion year-on-year, with property, plant and equipment at N308.1 billion remaining the largest asset class, followed by cash and bank balances of N152.7 billion.
In terms of equity, retained earnings rose to N86.3 billion from N62.6 billion, supporting total equity of N287 billion and reflecting improved earnings accumulation over the period.
On the liabilities side, long-term contract liabilities of N452.2 billion represented the largest obligation, while total liabilities stood at N782.9 billion compared to N700.1 billion in the prior year.
Market reaction
Shares of the company jumped 9.38% on the Nigerian Exchange following the release, closing the April 29, 2026, session at N315 per unit.
Year-to-date, the stock has returned 106.02%, with trading volume reaching 38 million units.
