Julius Berger’s pre-tax profit for FY 2024 jumps 32% as total revenue ascends to N566 billion 

This figure represents a 32.38% increase from last year’s N22.2 billion; however, the company experienced a decline in the fourth quarter, with pre-tax profit dropping to N3.3 billion, a decrease from N7.2 billion in Q4 2023.

In terms of revenue, the fourth quarter saw an increase of 42.99%, reaching N161.2 billion, compared to N112.7 billion in the same quarter of the prior year.

Total revenue for the year reached N566.2 billion, a 26.91% increase from N446.1 billion in 2023, with civil works contributing 55% of total revenue, reflecting its importance to the company’s performance.

Julius Berger’s total assets for 2024 climbed to N1.01 trillion, marking a significant rise from N678.2 billion the year before.

Julius Berger reported a revenue increase of 26.91% year-on-year, rising from N446.1 billion the previous year to N566.2 billion for the full year 2024.

The company’s cost of sales rose sharply to N495.8 billion, reflecting a 32.77% increase from N373.4 billion the prior year. Hence, gross profit declined slightly to N70.3 billion, down 3.21% from N72.6 billion.

Other gains improved to N32 billion, a 103.77% rise from N15.7 billion, driven primarily by impairment of fixed assets and net foreign exchange gains.

The company’s full-year pre-tax profit also increased to N29.5 billion, up 32.38% from N22.2 billion, while post-tax profit rose 17.55% to N14.9 billion from N12.7 billion the previous year.

Julius Berger’s total assets for the full year 2024 rose to N1.01 trillion, a substantial increase from N678.2 billion reported the previous year.