Nigeria’s construction giant, Julius Berger Nig Plc, has declared a 37%, Profit before Tax increase representing a 173% rise while total comprehensive income increased by 47%.
This was disclosed by the financial director of the company, Mr Martin Brack, who also said that earnings per share increased by 47%, and the shareholders equity rose to N35 billion during the 2018 financial year.
The Managing Director of the company, Dr. Lars Ritcher, also at the Investor Forum in Lagos said that the record making progress by the company at the second Niger Bridge Project site reflects the company’s continued commitment to a timely completion of the project.
Richter also reiterated that the cold recycling methodology which the company introduced into the country at the ongoing Abuja-Kaduna-Zaria-Kano Road works, “points to an efficient future of road construction, rehabilitation and maintenance in Nigeria”.
The methodology, he reiterated, innovatively provides for the milled-off pavement to be recycled and improved for reuse in paving the base layer of the road.
Speaking on the Lagos-Shagamu Expressway, which has seen delays and even work stoppage in the past, due to funding challenges, Richter said since the resumption of
“Considering that the Expressway is now financed via the Presidential Infrastructure Development Fund, we presume that we will be able to achieve an uninterrupted pace of work with the new funding structure”, Dr Richter said.
On the ongoing Bodo Bonny Road, Dr Richter said that in spite of the project’s strategic socio–economic importance as well as its acknowledged challenges, “…as the first major contractor to enter Bonny Island over 20 years ago, Julius Berger has the experience and the technical knowhow to deliver the needed solution, and we are doing so”.
Speaking to the company’s success at both the completed Azura Power Plant as well as to the success of ongoing works at the Okpai Power Plant, Dr Richter also said “Power is a key sector for the future of Nigeria and for Julius Berger, and we now have the proven experience and knowhow to continue growing our portfolio in the power sector.”
At the event, which has become a traditional pre-AGM presentation by the executive management of Julius Berger Nigeria Plc, the company’s shareholders and stakeholders were presented with raw data on the business activities and fortunes of the company over the 2018 business year as well as on its economic trajectory.
On the future of the company, the MD said, “…Looking forward, Julius Berger remains intent on continuing to strengthen our core construction business, in part by building on optimizations while maintaining our commitment to a standard of excellence second to none. “
Richter added that Julius Berger “will continue to focus on strengthening the group, by further developing our subsidiaries… all of which have a great potential for increases in revenue and market share in their respective sectors.
“For our company and the nation, the future is dynamic, requiring a nimble approach and quick problem solving – a main objective of the change agenda which we have successfully realized and will continue to build from in the years ahead”.