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Saturday, January 28, 2023

Julius Berger Eyes Investments Outside Nigeria in Growth Push

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Julius Berger Nigeria Plc, the largest engineering construction company in the country is looking to invest beyond Nigeria as it seeks to maximise growth opportunities.

Matters relating to business opportunities in countries beyond Nigeria, were discussed at a meeting of the Company’s Board of Directors held this month.

The firm has in recent times sought to diversify its earnings away from the highly cyclical construction sector.

In September 2022, it officially launched its new cashew processing plant its first Agro-processing activity, which formed the cornerstone of Julius Berger’s diversification activities, and in particular in the Agro-sector.

“We have severally advised the Market that Julius Berger will be looking into diversification opportunities, based on the emerging developments, political, economic and structural in Nigeria and the resultant reforms by the Governments,” according to a statement by the firm earlier this year.

“The Board of Directors and the Executive Management of Julius Berger strongly believes that this diversification direction would support the continued success of the Group in the future and align with the strategic objective of the Government to stimulate value creation in Nigeria.”

Julius Berger’s Q3 2022 unaudited results for the period ended September 30th, 2022, showed revenue grew by 22.01% to N309.81 billion from, N253.91 billion, while profit after tax stood at N6.96 billion.

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