Julius Berger Nigeria : Financial Statement Q1 / 2021

CONSOLIDATED UNAUDITED FINANCIAL STATEMENTS FOR THE FIRST QUARTER ENDED 31 MARCH, 2021

Julius Berger Nigeria Plc

10 Shettima A. Munguno Crescent

Utako 900 108 | Abuja FCT

RC No. 6852

CONSOLIDATED UNAUDITED FINANCIAL STATEMENTS

FOR THE FIRST QUARTER ENDED MARCH 31, 2021

SUMMARY	1st Quarter		Year to date
	N'000		N'000
Turnover	71,201,333		71,201,333
Profit before tax	3,454,647	3,454,647
Taxation	(627,615)		(627,615)
Profit/(loss) after tax	2,827,032	2,827,032

BY ORDER OF THE BOARD

MRS. CECILIA MADUEKE

COMPANY SECRETARY

FRC/2017/NBA/00000017540

April 28, 2021

For more information please visit www.julius-berger.com.

CONSOLIDATED UNAUDITED FINANCIAL STATEMENTS

FOR THE FIRST QUARTER ENDED MARCH 31, 2021

CONTENTS	PAGE
Consolidated Unaudited Statement of Comprehensive Income	1
Consolidated Unaudited Statement of Financial Position	2
Consolidated Unaudited Statement of Changes In Equity	3
Consolidated Unaudited Statement of Cash Flows	4
Selected Footnote Disclosures	5

CONSOLIDATED UNAUDITED STATEMENT OF COMPREHENSIVE INCOME

FOR THE FIRST QUARTER ENDED MARCH 31, 2021

									AUDITED
			2021		2020		31/12/2020
			3 months		3 months	3 months		3 months
		Note	Jan - Mar		Jan - Mar	Jan - Mar		Jan - Mar
		N'000		N'000	N'000		N'000	N'000
Revenue		71,201,333		71,201,333	55,913,070		55,913,070	241,779,455
Cost of sales		(58,176,965)		(58,176,965)	(45,235,730)		(45,235,730)	(193,519,528)
Gross profit		13,024,369		13,024,369	10,677,341		10,677,341	48,259,927
Other gains and losses	4	1,297,553		1,297,553	(404,057)		(404,057)	(1,167,310)
			14,321,921		14,321,921	10,273,284		10,273,284	47,092,617
Marketing expenses		(84,696)		(84,696)	(70,918)		(70,918)	(287,848)
Administrative expenses		(9,089,061)		(9,089,061)	(9,012,566)		(9,012,566)	(34,510,009)
Impairment loss on trade and tax receivables		-		-	142,969		142,969	(963,714)
Operating profit	5	5,148,164		5,148,164	1,332,769		1,332,769	11,331,046
Investment Income	103,361		103,361	105,966		105,966	461,325
Foreign exchange acquisition loss	6	(1,161,115)		(1,161,115)	-		-	(4,219,796)
Finance costs	(635,763)		(635,763)	(384,467)		(384,467)	(3,715,933)
Profit/(loss) before tax		3,454,647		3,454,647	1,054,269		1,054,269	3,856,642
Income tax expenses		(627,615)		(627,615)	(641,818)		(641,818)	(2,620,369)
Profit/(loss) after taxation		2,827,032		2,827,032	412,450		412,450	1,236,273
Profit/(loss) for the year		2,827,032		2,827,032	412,450		412,450	1,236,273
Other comprehensive Income for the year:
Actuarial gains on retirement benefits		(116,730)		(116,730)	(89,544)		(89,544)	(933,841)
Related tax		37,354		37,354	28,654		28,654	298,829
Exchange difference on translation of foreign		(79,376)		(79,376)	(60,890)		(60,890)	(635,012)
operations		(384,326)		(384,326)	596,186		596,186	6,684,427
Total comprehensive income		2,363,330		2,363,330	947,747		947,747	7,285,688
Attributable to:
Owners of the Company		2,414,806		2,414,806	947,634		947,634	7,281,850
Non-controlling interests		(51,475)		(51,475)	113		113	3,838
			2,363,330		2,363,330	947,747		947,747	7,285,688
Earnings per share (Naira)
	1.52		1.52	0.72		0.72	4.60
Diluted earnings per share		1.51		1.51	0.60		0.60	4.55

The tax rate applied above is assumed based on the corporate tax rate of 30% payable by corporate entities in Nigeria on taxable profits under the Companies Income Tax Act, and 2% education tax based on the assessable profit of companies.

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