Julius Berger Nigeria reports 38% growth in gross profit to N66.490bn in Q1 2022 

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By Philemon Adedeji

Julius Berger Nigeria plc, has released its unaudited result for the first quarter ended 31, March 2022, declaring growth of gross profit which rose significantly by 38 per cent to a N66.490 billion in the first quarter of 2022 from N48.259 billion in the first quarter of 2021.

Under the platform of Nigerian Exchange Limited (NGX), profit for the year recorded for the period under review grew to an impressive 575 per cent to a N8.34 billion in the previous period of 2022 from N1.23 billion in the corresponding period of 2021

However, profit before tax recorded indicates an increase to a 268 per cent from N3.85 billion in the first quarter of 2021 to N14.176 billion in the first quarter of 2022.

The group recorded operating profit for the period which increased significantly by 81 per cent to a N22.67 billion in three months of 2022 to N12.498 billion in three months of 2021, Also total comprehensive recorded went up by 21 per cent from N7.285 billion in three months of 2021 to N8.798 billion in three months of 2022.

The group recorded 20 per cent increase in earnings per share for the period which moved from N4.60 kobo in the first quarter of 2021 to N5.53 kobo in the first quarter of 2022.

In the unaudited result declared by the group, the group recorded growth of total assets and total equity which rose significantly. The total assets recorded by the group for the period grew higher by 45 per cent to N477.23 billion in three months of 2022 from N328.9 billion in three months of 2021 unaudited result and account for the period ended March 31, 2021.

Meanwhile, total equity gained 18 per cent from N44.9 billion in the first quarter of 2021 to N53.112 billion in the first quarter of 2022.Total current assets recorded by the group reveals appreciation of an impressive 80 per cent to N277 billion in three months of 2022 from N153.9 billion in three months of 2021, As total non- current assets appreciated by 18 per cent from N175.025 billion in the first quarter of 2021 to N200.2  billion in the first quarter of 2022.

In addition, total liabilities increased by 49 per cent from N283.9 billion in the first quarter of 2021 to N424 billion in the first quarter of 2022, As current total liabilities grew by 22 per cent to N92.9 billion in three months of 2022 from N76.377 billion in three months of 2021

While, Total non-current assets moved higher by 60 per cent from N207 billion in the first quarter of 2021 to N331.15 billion in the first quarter of 2022.