Julius Berger, Nigeria’s largest listed construction company is moving ahead with its diversification drive as revenues received last year from outside Nigeria increased to N5.013 billion.
The construction giant’s overseas revenues from geographic markets located in Europe and Asia rose by 10 percent compared to 2019 levels, despite the negative effects of the coronavirus pandemic on economic activities globally.
Julius Berger has 3 major products and service lines which offer civil works/construction, building works and facility management services to clients.
The firm however reported an 84.5 percent slide in profits last year to N1.356 billion, compared to N8.759 billion in 2019.
Lower revenues (compared to 2019) and higher foreign exchange (FX) losses were responsible for the slide.