Julius Berger Nigeria (JBN) Plc has reported a major jump of 586 percent in profit after tax (PAT) to N2.827 billion in the first quarter ended March 31, 2021, up from N412 million recorded in the corresponding period of 2020. The performance is coming on the heels of a cash dividend of 40 kobo and bonus shares recommended for the 2020 financial year.
Details of the 2021 Q1 results showed that JBN grew revenue by 27 percent from N55.913 billion to N71.201 billion in 2021. Profit before tax rose from N1.054 billion to N3.456 billion, while PAT soared from N412 million to N2.827 billion.
With an operational cash flow of N6 billion, the company continued implementing strategic investments, amounting to N10 billion in 2020 and was able to overcome temporary shutdowns of its construction sites in the second quarter of 2020 by utilizing its strong base of personnel and capital resources.
JBN continues to maintain its historical and robust resilience to top the class and retained the driving seat of the engineering construction sector.
Looking at the result from JBN analysts have said the fact that the company worked in such a focused way to successfully improve on its turnover to maintain its leading edge in the construction sector despite the operational threats occasioned by the global pandemic, is a clear plus for the country’s engineering construction leader.
Speaking to the trajectory of the share value of the company, market experts opined that, looking at the increasing operational scope or work portfolio of the company, its widely experienced board as well as its hardworking, determined, and forward-looking executive management team, and based on resilient business history, the business outlook JBN reasonably assures all stakeholders of better performance going forward.
JBN had said it would be looking into diversification opportunities based on the emerging developments, including economic and structural reforms in Nigeria and the resultant paradigm shifts by the government.
