LAGOS, Nigeria — Julius Berger Nigeria Plc posted a pretax profit of N9.8 billion in the first quarter of 2026, a 66.10% increase from the N5.9 billion recorded in the same period of 2025, according to financial statements filed on the Nigerian Exchange (NGX).
Okay News reports that the construction firm generated revenue of N177.5 billion in the quarter, down marginally from N180.5 billion in Q1 2025, with civil works contributing N112.6 billion, or 63.4% of the total.
Building works generated N39.4 billion, services contributed N24.5 billion, and diversification activities added N917.5 million to the revenue mix. Regionally, Africa accounted for 92.7% of total revenue.
Cost of sales declined to N148.9 billion from N153.1 billion, lifting gross profit to N28.6 billion from N27.4 billion, a 4.60% year-on-year increase. Administrative expenses fell sharply to N17.9 billion from N22.6 billion, pushing operating profit to N6.09 billion, up 95.50% from N3.1 billion in Q1 2025.
Investment income of N4.8 billion, up 29.71% year-on-year, provided further support to profitability, though finance costs of N1.1 billion partially offset the gains. After tax expenses of N7.3 billion, profit after tax declined to N2.4 billion from N3.5 billion in the prior period.
On the balance sheet, total assets stood at N1.07 trillion (approximately $694 million), up from N1.05 trillion year-on-year. Property, plant and equipment remained the largest asset class at N308.1 billion, followed by cash and bank balances of N152.7 billion. Retained earnings rose 37.81% to N86.3 billion from N62.6 billion, supporting total equity of N287 billion.
Total liabilities stood at N782.9 billion, up from N700.1 billion in the prior year, with long-term contract liabilities of N452.2 billion representing the largest obligation.
Shares of Julius Berger Nigeria Plc rose 9.38% on the NGX following the results, closing the April 29, 2026 session at N315 per unit. The stock has returned 106.02% year-to-date, with trading volume reaching 38 million units.
