Julius Berger’s PAT Rises 69.6% in Q4 2019
UMORU ABDULKADIR
Julius Berger Nigeria Plc has declared a 69.65 per cent growth in its Profit After Tax (PAT).
This was disclosed in the Company’s unaudited financial statements for the year 2019 filed to the Nigerian Stock Exchange (NSE), Monday.
The Company grew its PAT for the year-on-year period to N10.30 billion from N7.81 billion reported in the Q4 period of 2018, representing 69.65 per cent rise in profit despite the increase in Cost of Sales for the period by 39.2 per cent from N146.5 billion to N203.9 billion.
Further analysis of the accounts shows that it also 46.02 per cent advancement in the Group’s Profit Before Tax (PBT) from N9.92 billion of December 2018 to N14.7 billion.
In the same vein, the Company’s turnover jumped by 36.9 per cent to N264.6 billion from N193.3 billion of the corresponding period of 2018, its total comprehensive income grew significantly by 35.2 per cent from N7.8 billion in Q4 2018 to N10.6 billion in the just-ended fourth quarter period of 2019.
Meanwhile, on a quarter-on-quarter basis, Its revenue dipped 3.3 per cent from N74.8 billion in the three months period from October –December 2018 to N72.3 billion in the just-ended three months period of 2019.
Despite efforts by the company to keep the cost of sales low, using cost-effective marketing strategies for the period under review, its Cost of Sales rose marginally by 0.42 per cent to N53.1 billion when compared with N52.3 billion of the corresponding period of 2018, while its gross profit also fell by 14.6 per cent impacted by the increase in Cost of Sales.
Similarly, notwithstanding the harsh operating environment bedevilled by inadequate power supply and high cost of production resulting from high inflation rate, the company was able to record 51.74 per cent increase in its PBT for the three months period ended December 31, 2019, while also growing PAT by 120.6 per cent to N5.2 billion from N2.4 billion of the corresponding period of 2018.
The Company’s earning per share dropped from 5.92 in December 2018 to 3.29 in the Q4 period of 2019. This indicates that the Shareholders earn less in every ordinary share in the just-ended period than the corresponding of 2018.
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