Julius Berger displays resilience against Covid-19 pandemic challenges

Julius Berger Plc still displayed resilience in its financial report for the year ended December 31, 2020, despite challenges occasioned by Covid-19 pandemic. Despite the impacts of the pandemic on the construction business, Julius Berger recorded a stable turnover of N 242billion and a Profit before Tax of N3.9 billion, according to the financial scorecards at the Nigerian Exchange Limited (NGX).

Julius Berger Nigeria Plc was able to overcome temporary shutdowns of its construction sites in the second quarter (Q2) of 2020 by utilising its strong base of personnel and capital resources.

For the business year ended December 31, 2020, the leading construction company in Nigeria grew its Total Assets by 4.9percent to N329 billion from N317 billion recorded in the previous year.

With an operational cash flow of in excess of N6 billion, the Company continued implementing strategic investments, amounting to N10 billion within the period.

The company’s performance comes on the heels of industry-wide disruptive effects of the global covid-19 pandemic and its attendant operational quarantine and slowdown on businesses and supply chains as well as other interplaying scenarios all through the 2020 operating year.

Julius Berger continues to maintain its historical and robust resilience to top the class and retained the driving seat of the engineering construction sector.

Looking at the result from Julius Berger holistically, industry experts and analysts submit that the fact that the company worked in such a focused way to successfully improve on its turnover to maintain its leading edge in the construction sector despite the operational threats occasioned by the global pandemic, is a clear plus for the country’s engineering construction leader.

Meanwhile, as an indication of its continuing encouraging trajectory of performance, Julius Berger has published its First Quarter report for the period ended, 31 March 2021. The company released an impressive result with growth in its top-line and bottom-line figures, compared to figures reported in Q1 2020.

In the first quarter (Q1) to March 31, Julius Berger reported a turnover of N71.2 billion, up by 27.34percent from N55.9 billion reported in Q1 2020. Profit before tax grew by 228percent to N3.4 billion from the profit before tax of N1.1 billion achieved in the first quarter of 2020.

Earnings per share (EPS) of Julius Berger for the period under review increased to N1.52 from the EPS of 72 kobo, which translates to 111percent growth year on year.

Source : business ay