Julius Berger berths market with disappointing N1.9bn loss in H1’2020
Julius Berger Nigeria Plc has published its financial report for the first-half (H1) to June 30 with a record after tax loss of N1.55billion as against N2.83billion profit after tax (PAT) in H1’19.
Julius Berger Nigeria Plc is a leading Nigerian company offering holistic services covering the planning, design, engineering, construction, operation and maintenance of buildings, infrastructure and industry projects in Nigeria.
The company’s H1’20 scorecards released at the Nigerian Stock Exchange (NSE) show disappointing top-to-bottom line figures.
Its H1’20 revenue decreased to N102.05billion from N131.7billion in H1’19, while gross profit stood lower at N18.63billion in H1’20 from N29.8billion in H1’19. Julius Berger reported loss before tax of N1.55billion in H1’20 from a profit before tax (PBT) of N4.56billion in H1’19.
The share price lost N1.05 (-6.16 percent) on Monday July 27 to N16 as investors moved to sell the stock in reaction to the scorecards. This year, the company’s share has lost about 15 percent of its value. Its earnings per share (EPS) decreased to N0.01 in H1’20 from N2.73 in H1’19.