|
Listen now
Getting your Trinity Audio player ready...
|
Nigeria’s largest construction firm, Julius Berger Plc recorded a 48% jump in profit for the third quarter (Q3) period ended September 2025, but this was only due to the effects of foreign exchange (FX) gains.
Julius Berger recorded net FX gains of N39.28 billion, up 590% from N5.68 billion as at September 2024. Together with proceeds from Property, Plant and Equipment (PPE) of N6.74 billion, which pushed other gains and losses to N44.99 billion in Q3, 2025, compared to N15.85 billion as at September 2024.
That helped to lift operating profit for the period to N24.2 billion, after gross profit of N80.15 billion was swallowed by administrative expenses (N69.98 billion) and impairment on trade and tax receivables (N30.62 billion).
Profit before tax rose to N29.88 billion after the impact of investment income of N9.66 billion, while profit after tax was up 48% to N18.25 billion in Q3, 2025, from N12.3 billion as at the same period in 2024.
Public Sector Still Major Source of Revenue
Julius Berger booked total revenue of N540.8 billion in the 9 months 2025 period, with the breakdown showing the government was the major source of contracts.
Government revenue was responsible for N439.8 billion or 81.4%, while the private sector revenue amounted to N101 billion or 18.67%.
Under the private sector revenue bookings, Julius Berger had N41.9 billion of the total coming from Europe, a sign of diversification of revenue sources by geography.
Civil works of N349.9 billion accounted for a majority of Julius Berger’s revenue as at the 9 months 2025 period, followed by building works at N129.44 billion, services at N51 billion and diversification at N10.37 billion.
Follow the MoneyCentral Nigeria channel on WhatsApp: Click here!
