Julius Berger’s Gross Profit Grows by 4.58% to ₦20,970 Million in Q1 2024


Julius Berger Nigeria Plc’s first-quarter financial report for 2024, analyzed by Cowry Research, reflects resilience and stability despite prevailing economic challenges. The report, issued by Cowry Asset Management Limited, provides valuable insights into Julius Berger’s financial performance, serving as a guide for potential investors.

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Despite a modest 2.79% increase in revenue compared to Q1 2023, Julius Berger maintained a strong gross margin of 18.9%, showcasing efficient cost management strategies. The company reported a 4.58% growth in gross profit, reaching ₦20,970 million.

Operating margins remained stable at 4.9%, indicating consistent operational efficiency. However, selling and distribution costs experienced a notable increase of 104.76%, impacting the overall net profit margin, which rose to 9.1% from 2.1% in the previous year.

Profit before tax surged by an impressive 340.53%, reaching ₦16,749 million, driven by a significant increase in investment income and other gains. Consequently, basic earnings per share soared to ₦6.26, marking a remarkable 347.14% growth.

On the balance sheet front, Julius Berger demonstrated strength and growth, with total assets increasing by 11.79% to ₦767,943 million. Shareholders’ equity also saw a substantial rise of 39.19%, reflecting the company’s financial health and stability.

Despite economic uncertainties, Julius Berger Nigeria remains a solid player in the construction industry, poised for continued growth and value creation. Investors are encouraged to leverage the insights provided by Cowry Research to make informed investment decisions in the Nigerian market.

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OyinyeChukwu Paula
OyinyeChukwu Paulahttp://Vetiva%20Research
OyinyeChukwu Paula Position: Business Journalist, Naija247news OyinyeChukwu Paula is an accomplished business journalist contributing her expertise to Naija247news, one of Nigeria's leading news platforms. With a keen interest in economic affairs, financial markets, and corporate developments, Paula brings a wealth of knowledge to her reporting, delivering insightful analyses on the dynamic business landscape in Nigeria and beyond. Education: Paula holds a degree in Journalism from [Abia State University], where she honed her skills in investigative reporting and business journalism. Her academic background laid the foundation for her commitment to delivering accurate and timely news with a business-focused perspective. Professional Experience: Having amassed experience in the field, Paula's journalistic journey has been marked by a dedication to uncovering stories that impact the business community. Her work spans interviews with key industry figures, coverage of market trends, and in-depth analyses of economic policies. Areas of Expertise: Financial Markets: Paula provides comprehensive coverage of financial markets, offering insights into stock movements, currency fluctuations, and economic indicators. Corporate Affairs: With a focus on corporate activities, Paula delves into mergers and acquisitions, financial reports, and the strategies employed by leading companies. Economic Policy: Keeping a watchful eye on government policies, Paula explores their implications on businesses and the broader economy, providing readers with a nuanced understanding of economic developments. Contributions to Naija247news: Paula's bylines at Naija247news reflect her commitment to delivering quality journalism. Whether unraveling complex financial narratives or simplifying intricate economic concepts, she ensures that her audience is well-informed and empowered. Passion for Business Journalism: Beyond the newsroom, Paula is known for her passion for business journalism's role in fostering transparency and accountability. She believes in the power of information to drive positive change and economic growth. In a media landscape marked by rapid changes, OyinyeChukwu Paula stands out as a dedicated business journalist who continues to shape the discourse on economic matters, contributing significantly to Naija247news's mission of delivering credible and impactful news.

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