News Column

Julius Berger Posts N212.7 Billion Turnover

June 19, 2014

Joe Nwankwo

A construction giant, Julius Berger Nigeria Plc, has declared N212.7 billion as profits for the year ended 2013. This as it recommended N2.70 as dividends for each ordinary share.

Speaking on Thursday in Abuja at the 44th Annual General Meeting of the company, the Chairman, Air Vice Marshall Mohammed Nurudeen Imam, stated that the gross turn over of the company stood at N212,737,291 billion while the profit before tax was N16,220,536.

"Julius Berger can successfully count 2013 as another successful year. Our company saw both financial and strategic progress, while creating further value for our shareholders. This commendable achievement is as a result of a number of key factors including well-controlled performance planning, stable cost structures and unwavering commitment to our organization's vision to be Nigerian's most dynamic constriction company," he stated.

Nurudeen noted that "in this respect, the Board of Directors is pleased to recommend an increased dividend of N2.70 per ordinary share, resulting in a total gross dividend payment of N3.24 billion, an improvement over that of the 2012 fiscal year, which was N2.50, per ordinary share, the Board is also pleased to recommend a bonus issue of one new ordinary share for every ten existing ordinary shares already held.

He said that the company in the year under review acquired more share capital in Abutmet Nigeria Ltd, raising shareholding to 90% adding that "this meets the objective of broadening our financial basis and strengthening our ability to provide turnkey building solutions."

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Source: AllAfrica

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