BY OUR CORRESPONDENT
For the business year ended December 31, 2020, construction giant, Julius Berger Nigeria Plc, grew its total assets by 4.9% to N329 billion from N317 billion recorded in the previous year.
Despite the impacts from the COVID-19 pandemic on its business operations, the company recorded a stable turnover of N 242 billion and a profit before tax of N3.9 billion.
With an operational cash-flow of +N6 billion, the company continued implementing strategic investments, amounting to N10 billion within the period.
The figures released by the Security and Exchange Commission (SEC) indicate that the company was able to overcome temporary shutdowns of its construction sites in the second quarter of 2020 by utilising its strong base of personnel and capital resources.
Given the industry-wide disruptive effects of the global COVID-19 pandemic and its attendant operational quarantine and slowdown on businesses and supply chains as well as other interplaying scenarios all through the 2020 operating year, the company said it was commendable that it still resiliently sustained its well-rooted technical and administrative resourcefulness as well as its financial stability and well being.
According to the statement by the managing director, Julius Berger Plc, Engr. Dr. Lars Richter, “Julius Berger 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 Julius Berger holistically, industry experts and analysts submit that 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 occassioned by the global pandemic, is a clear plus for the country’s engineering construction leader.
“Comparatively, financial institutions and network providers in the telecommunication sub-sector for example during the lockdown still very much enjoyed huge patronage via electronic operations and from providing remote essential services even at reduced overhead expenses.
“In the case of the construction sector in general, only the fittest such as the operationally strong and healthy Julius Berger brand, sustained investor confidence and continued to thrive. The lockdown period heavily impacted on the construction sector’s operations amidst restrictions as only small windows of operations opened.
“It is therefore even more noteworthy that the company, according to industry insiders, opted to take seriously its sector leadership responsibilities, and did not sack any staff while the lockdown lasted.
“The strong commitment to its workforce came in addition to the company’s commitment to communities and Nigeria at large. The figures show the company implemented a dedicated CSR budget and spent N 0.5 billion to alleviate impacts from the covid-19 pandemic on Nigeria and its citizens.”
He added that from the figures released, Julius Berger, having clearly beaten the odds against the pandemic and other evaluative indices, is set to compensate its investors with a dividend of 40 kobo per share plus a bonus.
LEADERHIP reports that Julius Berger has been listed on the Nigerian Stock Exchange since 1991 and engineering construction business is at the heart of the Julius Berger Group’s enterprise.