Julius Berger reports N1 billion pre-tax profits in third quarter, nine-month profit surges 74%  

However, in the third quarter alone, pre-tax profit dipped to N1 billion, a decrease from the N3.7 billion recorded in the corresponding period of 2023.

In terms of revenue, Julius Berger demonstrated growth, with a 53.03% year-over-year increase, rising from N105.3 billion in Q3 of 2023 to N161.2 billion in the same quarter of 2024.

While the company’s earnings per share for Q3 slipped to N0.39, the cumulative earnings per share for the nine months saw a 35.12% increase, reaching N7.58.

Julius Berger recorded a 53.03% year-over-year revenue increase in Q3 2024, climbing from N105.3 billion in the previous year to N161.2 billion.

The company’s cost of sales rose by 60.45% year-over-year, reaching N142.4 billion compared to N88.7 billion in Q3 2023. Despite this increase, Julius Berger’s gross profit grew by 13.26% year-over-year to N18.7 billion in Q3 2024, up from N16.5 billion.

Notably, the company achieved a 32.42% reduction in finance costs, which dropped to N711.5 million from N1 billion.

Pre-tax profit for Q3 2024, however, declined to N1 billion from N3.7 billion in the same quarter last year. Nonetheless, cumulative pre-tax profit for the nine months ending September 30, 2024, soared to N26.1 billion, representing a 74.04% year-over-year growth.

Similarly, post-tax profit for Q3 declined to N706.7 million from N2.2 billion in Q3 2023, with earnings per share (EPS) for the quarter standing at N0.39. However, cumulative post-tax profit and EPS for the nine-month period grew by 36.76% and 35.12%, respectively.