Julius Berger Plc recorded a profit of N6.7 billion in 2014 as against N4.7 billion in 2013, a 42 percent increase in spite of challenges.
However, in spite of the fact that the group’s turnover fell from N212.7 billion in 2013 to N196.8 billion in 2014, the Julius Berger group remained profitable at the end of 2014 with a profit after tax which stands at N8.2billion as at December 31, 2014 – a 5 percent increase from 2013.
Presenting the consolidated financial statements for 2014, together with a year review and outlook to its shareholders at the 45th Annual General Meeting which held at the Shehu Musa Yar’Adua Centre in Abuja yesterday, the board of directors and executive management pointed out the achievements of the company in spite of daunting economic challenges that faced the Nigerian nation in the year under review.
Chairman of Julius Berger Plc, AVM Mohammed Nurudeen Imam, CFR, reeled out the accomplishments of the company, as well as the difficulties faced.
According to him, Julius Berger’s performance was only made possible through proactive mitigation measures which took into cognisance the economic situation in the country, especially the dwindling oil prices at the international oil market which adversely affected Nigeria’s income, being largely dependent on oil exports.
“Notwithstanding the challenges, group turnover remained stable, with only a slight reduction from the previous reporting year.
“Consequently, the board of directors is able to maintain dividend at the same level as the prior reporting year, N2.70 per ordinary share.
“Approved bonus shares of one new ordinary share for every ten existing ordinary shares already held were actualised in the 2014 financial year, resulting in an increased total gross dividend pay-out of N3.56 billion,” the chairman stated.
On his part, the managing director, Engineer Deltev Lubasch, presenting a general view of the company’s operations over the past financial year, together with a summary of the current business environment and its implications for the group, stressed on the strategies and goals from the immediate to mid-term future of the company.
He presented to shareholders the ongoing diversification by Julius Berger Plc into the power sector, as a means of strengthening the company’s position as an engineering, procurement and construction, EPC contractor for power and related projects.
‘Julius Berger continues to be equipped to respond positively to the opportunities and challenges of its operating environment,” Engr. Lubasch said.

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