Business
Shareholders applaud new leadership at Julius Berger’s 55th AGM as company pays out N5.2bn dividend
Shareholders of Julius Berger Nigeria Plc expressed strong optimism and support for the company’s new leadership at its 55th Annual General Meeting (AGM) held at the Shehu Musa Yar’Adua Centre in Abuja on Thursday. The gathering marked the first AGM under the stewardship of the new Board Chairman, Engr. Goni Sheikh, and Managing Director, Engr. Dr. Peer Lubasch.
The meeting was vibrant and well-attended, with shareholders actively engaging in discussions and applauding the direction the company is taking under the new leadership. Many shareholders praised the appointments of Sheikh and Lubasch, expressing confidence that the company would build on its past achievements and reach greater heights.
“I am very optimistic,” said one shareholder from the Southwest. “Our past leaders did well, but with this new duo of Goni Sheikh and Peer Lubasch, things can only get better for Julius Berger.”
In a show of overwhelming support, shareholders approved all resolutions proposed by the Board, including the payment of a total gross dividend of N5.2 billion, appointment of new executive and non-executive directors, and the confirmation of Engr. Sheikh as a director of the company.
Resilience Amidst Economic Challenges
Addressing the shareholders, Managing Director Peer Lubasch acknowledged the tough macroeconomic environment but highlighted the company’s resilience and adaptability. He cited challenges such as naira devaluation, persistent foreign exchange scarcity, inflation, soaring fuel prices, high lending rates, rising construction costs, and security issues as significant hurdles faced during the reporting year.
“Despite these compounding pressures, Julius Berger has remained steadfast. In line with our mission, we’ve been able to convert these challenges into tangible opportunities,” Lubasch said.
He added that the company achieved record-high revenue, expanded its asset base, and maintained stability across projects, crediting this success to a well-executed, forward-looking strategy.
“Our achievements are rooted in our core strengths, strong collaboration with subsidiaries, and a deliberate diversification policy,” he explained.
Regional Expansion and Future Outlook
Lubasch highlighted Julius Berger’s progress in expanding its footprint outside Nigeria, revealing the award of two new contracts in the Republic of Benin as part of the firm’s regional diversification strategy.
“Our leadership remains agile, and our teams are dedicated. With our values of excellence, responsibility, courage, and collaboration, we are poised for even greater success,” he assured.
Concluding his address, the Managing Director emphasized that Julius Berger would continue to lead with innovation and sustainable practices aligned with global standards.
“No matter the uncertainties of the future, Julius Berger will remain a beacon of excellence, delivering value and maintaining our reputation as Nigeria’s most trusted engineering and construction partner,” he said.
The AGM underscored growing investor confidence in Julius Berger’s future and the ability of its new leadership to steer the company through Nigeria’s challenging economic climate while pursuing regional growth and operational excellence.