Julius Berger Nigeria Plc’s full year 2020 financials show the company reported negative growth across its top-to-bottom line figures.
As shown in the results released Tuesday on the Nigerian Exchange (NGX) Limited, the construction giant recorded group revenue of N241.7billion in 2020, which represents a decrease of about 9.25percent when compared to N266.4billion in 2019.
The group profit before tax (PBT) of N3.85billion in 2020 represents a decline of 72.29percent from N13.91billion in 2019; while its profit for the year printed remarkably lower at N1.25billion in 2020, down by 85.6percent from N8.73billion reported in 2019.
Julius Berger severally advised that it will be looking into diversification opportunities, based on the emerging developments, political, economic and structural in Nigeria and the resultant reforms by the Governments.
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In September 2020, the company advised the Exchange and the Capital Market that the Board at its meeting held on September 22 approved a diversification opportunity for the Company in Agro-processing.
The Board of Directors and the Executive Management of Julius Berger strongly believed that such diversification direction would support the continued success of the Group in the future and align with the strategic objective of the Government to stimulate value creation in Nigeria. Despite the unimpressive financials, it proposes a final dividend of 40kobo per share for the period ended December 31, 2020.
The N20.55 per share Julius Berger opened for trading this week on the Nigerian Bourse implies the share price has risen by 15.4percent this year.
The proposed final dividend which is subject to shareholders’ approval and appropriate withholding tax will be paid to shareholders whose names appear in the Register of Members as at the close of business on May 28, 2021.
The Register of shareholders will be closed on May 31 to June 2, 2021. On June 18, 2021, dividends will be paid electronically to shareholders whose names appear on the Register of members as at May 28, 2021 and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their bank accounts.
