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Sunday, March 26, 2023

Julius Berger Diversifies into Agro-Processing

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Julius Berger the largest construction company on the Nigerian Stock Exchange (NSE) has informed its shareholders that it intends to diversify into Agro-processing.

The Board of Directors of Berger has approved the diversification opportunity, according to a statement by the firm to the NSE.

“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,” the statement said.

“We would advise the Exchange and the Capital Market that the Board of Julius Berger at its meeting held on September 22, 2020 approved a diversification opportunity for the Company in Agro-processing.”

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, according to the firm.

Julius Berger has been operating in Nigeria and delivering construction solutions for 50 (fifty) years.

“The goal of the Board of Directors and the Executive Management of Julius Berger is to deliver on that strategy by maintaining and strengthening the Company’s competitive advantages in the Construction sector, and Capital Market,” the statement said.

Julius Berger stock has returned 4.65 percent in the past year, and it is currently trading at around N15 per share. The construction giant booked a loss for the Half Year 2020 period.

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