Julius Berger Nigeria Plc reported a pre-tax profit of N29.8 billion for the nine-month period ended September 30, 2025, representing a 14.08% increase from N26.1 billion in the same period of 2024.
For the third quarter alone, the company posted a pre-tax profit of N16.7 billion, a sharp rise from N1.05 billion in Q3 2024.
The strong Q3 performance was driven by substantial net foreign exchange gains, solid revenue, and strong investment income, which helped the company offset elevated impairments and administrative expenses to deliver a profitable quarter.
Key Highlights (Q3 2025 vs Q3 2024)
- Revenue: N197.37 billion (Up 22.4%)
- Gross Profit: N20.15 billion (Up 7.4%)
- Operating Profit: N14.78 billion (Compared to a loss of N3.28 billion in Q3 2024)
- Investment Income: N3.10 billion (Down from N5.05 billion)
- Finance Cost: N1.16 billion (Up from N711.5 million)
- Profit Before Tax: N16.71 billion (Up 1,481%)
- Earnings Per Share: N6.91 (Up from N0.39)
Driving the Numbers
Julius Berger recorded revenue of N197.37 billion in Q3 2025, a 22.4% increase from N161.23 billion in the same period last year.
- The growth was driven by increased activity in civil works, which accounted for over 79% of the nine-month total, followed by building works.
Cost of sales rose 24.4% to N177.2 billion, resulting in a gross profit of N20.15 billion, up 7.4% year-on-year. A key boost to earnings came from N48.56 billion in other gains, largely from foreign exchange gains of N45.83 billion, reversing losses recorded last year.
- However, administrative expenses increased to N26.16 billion from N18.77 billion.
- Impairment charges on receivables also jumped to N27.68 billion from N1.82 billion, likely due to delayed contract payments.
Despite these pressures, operating profit stood at N14.78 billion, compared to a loss of N3.28 billion in Q3 2024. Finance costs rose to N1.16 billion but were offset by N3.10 billion in investment income.
Overall, profit before tax surged to N16.71 billion, while net profit reached N11.14 billion, a strong rebound from N706.7 million a year earlier.
Balance sheet snapshot
Julius Berger’s balance sheet shows solid growth, with total assets rising to N1.09 trillion from N821.2 billion a year earlier.
- Property, plant, and equipment accounted for the largest share at N298.5 billion, while cash and bank balances stood at N188.4 billion.
Shareholders’ equity also strengthened, as retained earnings increased to N72 billion from N56.4 billion in the same period last year.
Total liabilities climbed to N750.8 billion from N650.1 billion, driven largely by contract liabilities, which made up the bulk at N508.4 billion.
Julius Berger is currently priced at N151.80 as of the trading day ended November 3, 2025.
