Nigeria construction giant Julius Berger has seen its profit collapse in the first quarter (Q1) of 2025 as its diversification efforts away from civil and building works unravel.
Julius Berger reported a 64% slide in profit before tax to N5.9 billion in the three months’ period to March 2025, compared to N16.74 billion as at March 2024.
Profit fell at all major product and services lines in the first quarter of 2025 for Julius Berger, including civil works with profit down 82.6% to N1.227 billion, Building works with profit down 69% to N858 million from N2.759 billion in Q1, 2024 and services where profit fell 28% to N2.42 billion from N3.386 billion in Q1, 2024 (see table below).
Efforts at diversification took a particularly big hit as the segment recorded a loss of N1.39 billion.
Julius Berger Nigeria Plc has four core business segments, civil engineering – encompassing infrastructure and related construction projects within Nigeria; Building involving residential, commercial, and industrial building projects within Nigeria, services, provided to third parties in Nigeria and in Europe.
There is also Diversification which comprises of the business unit Cashew Processing in Epe, Lagos and the Groups expanded Construction Business into new regional Markets in West Africa.
Julius Berger diversification began in 2022 with the commissioning of its Cashew Processing Plant.
It has also undertaken road construction works in Cotonou, Republic of Benin.
Julius Berger stock is listed on the Nigeria Exchange (NGX) and has returned -11.76% year to date. It closed trading at N137 per share on Monday for a market capitalisation of N219 billion.
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