Julius Berger Plc has reported a 2.43% increase in revenue year on year (YoY) in quarter four of 2020, to N74.04 billion from N72.29 billion recorded in the same period of 2019.
Key highlights of the results show that revenue increased to N74.04 billion, +2.43% YoY, while revenue from Nigeria increased to N72.30 billion, +4.21% YoY.
Similarly, revenue from Europe & Asia declined to N1.74 billion, -40.07% YoY.
Revenue from civil works increased to N55.8 billion, +35.38% YoY.
Revenue from building works declined to N10.72 billion, -56.37% YoY.
Revenue from services increased to N7.54 billion, + 15.84% YoY.
Cost of sales increased to N60.1 billion, +13.19% YoY.
Other gains/losses increased to N83.89 million.
Investment income increased to N142.79 million.
Finance costs increased to N1.79 billion, +388.99% YoY.
Pre-tax profits declined to N5.12 billion, -30.65% YoY.
Earnings Per Share increased to N3.94, +19.76% YoY.
READ: Berger Paints Nigeria Plc records 8.96% increase in 2020 9M revenues
The company recorded a major increase in revenue generated from its civil works unit, as well as a rise in services income generating unit.
Despite the significant decline in building works income-generating unit, the company still recorded a 2.43% increase in revenues compared to the corresponding quarter in 2019. However, pre-tax profits declined in the period under consideration
