Nigeria’s engineering construction industry leader, Julius Berger Nigeria Plc, has announced the results of its consolidated audited financial statements for 2021, stating that the group’s revenue grew by 40% from N241.8 billion in 2020 to N338.8 billion in 2021.
The group also increased its Profit Before Taxation from N3.9 billion in 2020 to N14.2 billion in 2021 while the Profit After Taxation rose from N1.2 billion to N8.3 billion in the year under review.
Also, Earnings Before Interests and Taxes, EBIT margin improved by 154 bps while Finance Cost grew by 14% relative to Revenue Growth (40%) just as the company’s net cash position improved by 168% to N41.42 billion.
The company’s Board of Directors has also recommended a dividend of N2.50K per 50K share, resulting in a total gross dividend pay-out of N4 billion.
The result shows that the company was able to return to its 2019 growth path despite the difficulties of the year 2020 given the disruptions occasioned by the COVID-19 pandemic.
“The rise in revenue underlines the strong position of Julius Berger Nigeria Plc within the construction industry and its ability to execute its projects at an excellent pace and to the satisfaction of its clients,” the company said in a statement yesterday.