Julius Berger Nigeria Plc has reported a pretax profit of N9.8 billion for the first quarter of 2026, according to its financial statements filed on the Nigerian Exchange.
The figure represents a 66.10 per cent increase from the N5.9 billion recorded in the same period in 2025, supported by a strong revenue base, reduced operating costs, and significant investment income.
Revenue for the quarter stood at N177.5 billion, slightly below N180.5 billion recorded previously. Civil works accounted for 63.4 per cent of revenue, followed by building works at 22.2 per cent, while Africa contributed 92.7 per cent regionally.
Despite the marginal revenue decline, profitability remained firm, bolstered by N4.8 billion in investment income. Retained earnings also rose by 37.81 per cent year-on-year to N86.3 billion, strengthening the company’s financial position.
A breakdown shows civil works contributed N112.6 billion, down from N125.1 billion, while building works generated N39.4 billion and services contributed N24.5 billion. Diversification efforts added N917.5 million to the revenue mix.
Cost of sales declined to N148.9 billion from N153.1 billion, lifting gross profit slightly to N28.6 billion. Other gains increased by 82.05 per cent to N136.9 million, driven by miscellaneous income and property disposals.
Administrative expenses fell significantly to N17.9 billion from N22.6 billion, helping to boost operating profit to N6.09 billion, up from N3.1 billion. However, finance costs of N1.1 billion partially offset gains.
Although pretax profit rose sharply to N9.8 billion, profit after tax declined to N2.4 billion from N3.5 billion due to higher tax expenses of N7.3 billion.
On the balance sheet, total assets stood at N1.07 trillion, slightly higher than N1.05 trillion in the previous year. Property, plant, and equipment remained the largest asset base at N308.1 billion, followed by cash and bank balances of N152.7 billion.
Total liabilities rose to N782.9 billion from N700.1 billion, with long-term contract liabilities of N452.2 billion forming the largest share.
Retained earnings increased to N86.3 billion from N62.6 billion, supporting total equity of N287 billion.
Following the earnings release, shares of the company rose 9.38 per cent, closing at N315 per unit on April 29, 2026. The stock has delivered a year-to-date return of 106.02 per cent, with trading volume hitting 38 million units.
