Julius Berger to pay N2.64bn as total dividend

The board of Julius Berger Nigeria,  a construction giant has proposed  a total dividend of N2.64 billion. 

The amount translated to N2.00 per share holding by investors.

The company full year result released on Friday showed that revenue jumped by 37.16 per cent up from N141.89 billion in 2017 to N194.617 billion at end of December, 2018. The  cost of sales rose by 46.13 per cent to N142.609 billion, as against the previous N97.591 billion, resulting in gross profit of N52.008 billion, 17.4 per cent better than the N44.298 billion reported in 2017.

A breakdown of the revenue showed that construction contracts was the biggest earner, accounting for N178.532 billion, up from N135.29 billion, while services rendered fetched N16.085 billion, a jump from N6.599 billion.

Marketing expenses climbed by 165 per cent from N47.85 million to N126.81million; just as administrative expenses slipped marginally to N34.466 billion from N35.564 billion; leaving operating profit of N12.087 billion, up from N39.16 billion, representing a rise of 39.16 per cent.

Investment income, being interest income dropped by 57.91 per cent from N1.126 billion to N474.18 million, in the absence of the N1.126 billion dividend received in 2017; other gains fell from N4.076 billion to N2.29 billion, being profit from sale of property, plant and equipment of N529.887, nose-diving from N3.215 billion in 2017; as well as N862.693 million from net foreign exchange gains, up from N185.943 million and N897.746 million in sundry income, compared to N674.93 million in previous year.

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