Julius Berger 2018 Net Profit Up 142.37%, Offers N2.00 Dividend


Julius Berger Nigeria has informed the management and stockbrokers of the Nigerian Stock Exchange (NSE) that its profit after tax in the year ended December 31, 2018 rose by 142.37 per cent.

The company, in its 2018 financial results submitted to the Exchange at the weekend, said profit after tax in the period under review rose to N6.101 billion from N2.517 billion recorded in the comparable period of 2017.

Profit before tax also rose significantly from N3.739 billion in 2017 to N10.197 billion, representing an improvement of 172.7 per cent.

Revenue for the period appreciated by 37.16 per cent from N141.890 billion in 2017 to N194.617 billion while total comprehensive income which was N4.725 billion in 2017, rose to N7.00 billion, an improvement of 48.17 per cent.

Retained earnings for the period rose to N24.009 billion from N19.447 billion, earnings per share, however, stood at N5.30 from N3.61 while shareholders’ funds rose by 17.68 per cent to N35.417 billion from N30.095 billion.

The company’s quotation on the floor of the Nigerian Stock Exchange as at December 31, 2018 stood at N20.10 per share, while it was N28.00 per share at the same period in 2017, representing a drop of 28.21 per cent, while staff strength in the year under review rose from 8,625 to 12,183.

In a way of appreciating its numerous shareholders, the company is offering a dividend of N2.00 per ordinary share of 50 kobo each as against N1,00 per share paid in 2017, an 100 per cent improvement.

While confirming the payment of the dividend which will require the approval of its shareholders at the annual general meeting which will hold in Abuja in June, the company informed that the final dividend of N2.00 per 50 kobo share subject to appropriate withholding tax will be paid to shareholders whose names appear in the register of members as at the close of business on May 31, 2019.

The statement added that the register of shareholders will be closed on June 3 to June 7, 2019 while on June 21, 2019, dividends will be paid electronically to shareholders whose names appear on the register of members as at June 31, 2019 and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their bank accounts.

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