Julius Berger Nigeria Announces N2 Per Share Dividend, Nets N10bn as Profit

By Modupe Gbadeyanka

Shareholders will get a reward of N2 per share as cash dividend for the 2018 financial year, the board of Julius Berger Nigeria Plc has said.

However, this payment is subject to approval of the shareholders at the Annual General Meeting (AGM) of the company slated for June 20, 2019 at the Shehu Musa Yar’Adua Center, Abuja.

A statement issued by the construction giant said “closure date for the books of transfer of the company” is from June 3, 2019 to June 7, 2019, both days inclusive.

Julius Berger Nigeria, which released its 2018 financial statements on Thursday, said it netted N194.6 billion as revenue in the period review, an improvement from N141.9 billion it generated in the preceding year.

This was as the gross profit increased to N52 billion from N44.3 billion, with the operating profit growing from N8.7 billion in 2017 to N12.1 billion a year later.

Though investment income reduced to N474.2 million from N1.1 billion, the administrative expenses reduced to N34.5 billion from N35.6 billion, with the marketing expenses gulping N126.8 million against N47.9 million a year earlier.

Also, the cost of sales took N142.6 billion in the period under review compared with N97.6 billion in the previous year, while the company recorded N5.3 billion as impairment loss on trade and tax receivables.

Finance cost gulped N4.6 billion in the year under review in contrast to N6.9 billion in 2017 fiscal year, while N91.2 million accounted for foreign exchange acquisition loss versus N3.3 billion in the previous year.

The profit before tax of the company increased to N10.2 billion from N3.7 billion, while the profit after went up to N6.1 billion from N2.5 billion, with the earnings per share growing to N5.30k from N3.61k.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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