Julius Berger Nigeria reported an after-tax profit of N12.3 billion for the first nine months of 2024, up from N9 billion in the same period the previous year. The company’s revenue increased by 21 percent to N405.2 billion, with civil works contributing 60 percent to the total revenue.
Civil works contributed N242.9 billion to the total revenue, while building works contributed N83.9 billion, services contributed N76.3 billion, and diversification contributed N1.92 billion. Revenue from Africa grew to N380.2 billion, while revenue from Europe stood at N24.8 billion.
Marketing expenses decreased to N339.7 million, while administrative expenses increased to N51.1 billion. Other gains and losses increased to N18.5 billion. The federal government terminated the N740 billion Abuja-Kaduna-Zaria-Kano road rehabilitation contract that was awarded to Julius Berger plc.
Notable points about the company’s financials include a significant decline in borrowings, a surge in the cost of sales, improved investment income, and an increase in earnings per share. Julius Berger Nigeria is a construction company based in Nigeria, offering a range of services in planning, design, engineering, construction, operation, and maintenance of various projects in the country.
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