Julius Berger Nigeria loses ₦1.93bn in 6 months

Julius Berger Nigeria loses ₦1.93bn in 6 months

Julius Berger Nigeria Plc has recorded a total loss of ₦1.931 billion; within the period of six months.

The construction giant recorded this loss; as a result of an after-tax loss it faced during the first half of the year.

The loss was compared to its massive profit of ₦2.635 billion in the same period of 2019. The company’s unaudited first-half of the year report; revealed that the construction firm recorded revenue of ₦102.055 billion; during the last six months as against 131.783 billion in 2019.

Its gross profit dropped from 29.849 billion to 18.633 billion in 2020. Notwithstanding, its administrative expenses dropped to ₦15.748 billion; which was less than ₦22.446 billion in 2019.

A few weeks ago, Julius Berger Nigeria Plc was added to the Nigerian Stock Exchange (NSE) 30 index; thereby replacing Transnational Corporation of Nigeria Plc.

The NSE 30 Index was established to allow stock investors to track market movements; and enhance the efficient management of investment portfolios.

They make use of market capitalization methodology of the top most valuable Nigerian stocks by market value.

Julius Berger’s share price was drafted at ₦15 per share; about 10% from reaching its 52 week low of ₦14.42. It’s market capitalization presently stands at ₦23.76 billion; and it’s earning per share value stands at 2.52.

About The Author

Kingsley Alaribe

Kingsley Alaribe is a Digital Marketer with 1stNews, and writes the weekly column, Strangers and Lovers. He is also a Data Scientist. Email: kingsley.alaribe@1stnews.com

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