Julius Berger Nigeria Plc reported a significant 72% rise in earnings for the first half of 2024, with its after-tax profit climbing to N11.6 billion, up from N6.75 billion in the same period of 2023. This boost was driven by notable gains of N19.08 billion compared to N3.07 billion in the previous year and a surge in investment income from N1.43 billion to N9.22 billion. At the same time, the company’s finance costs decreased from N2.72 billion to N1.89 billion.
The Federal Government has committed N20 billion monthly to Julius Berger for the completion of the dualization of an 82-kilometer section of the Abuja-Kaduna-Zaria-Kano Highway. The project, totaling 164 kilometers, is expected to be completed within 14 months. The funding was confirmed after a meeting between Minister of Works David Umahi and Julius Berger representatives, focusing on delays in ongoing road projects.
Umahi stressed the importance of price control, contractor commitment, and delivering value for money on all federal road projects, especially those on key economic corridors. He also noted the importance of open discussions for milestone execution and funding under reviewed rates to ensure timely completion of these critical infrastructure projects.
Julius Berger continues to lead in Nigeria’s construction industry, delivering services across the planning, design, and construction of major infrastructure projects.
