Julius Berger Nigeria Plc released its 2019 Audited results for the period ended December 31st, 2019.
Key Highlights
- Revenue grew by 36.9% to N266.4bn from N194.6bn in the previous quarter.
- Profit before tax grew by 36.49% to N13.9bn.
- Profit after tax grew by 43.6% to N8.8bn.
- Net Assets also grew by 13.9% to N40.3bn from N35.4bn.
Shareholders of Julius Berger Nigeria Plc are to receive dividend and bonus shares for the financial year ended December 31, 2019, following improved performance recorded for the year.
The company is to pay a cash dividend of N3.63 billion, which translates to N2.75 per share compared to N2.64 billion paid in 2018. In addition to the cash dividend, the directors have recommended a bonus issue of one new share for every five already held by shareholders.
Details of the performance showed that Julius Berger Nigeria posted revenue of N266.43 billion, showing an increase of 36.8 percent compared with N194.62 billion in 2018.
The cost of sales rose from N142 billion to N206 billion, while gross profit stood at N60.119 billion, up from N52.01 billion. Marketing expenses rose from N126.806 billion to N139.683 billion. Financing cost jumped 55 percent to N7 billion, from N4.5 billion in 2018.
Julius Berger Nigeria ended the year with profit before tax of N13.918 billion, indicating an increase of 36 percent from N10.197 billion in 2018. Profit after tax grew from N6.102 billion to N8.759 billion in 2018.