Julius Berger Nigeria : Financial Statement Q1 / 2021
May 19, 2021 at 12:46 pm EDT
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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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Disclaimer
Julius Berger Nigeria plc published this content on 19 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 May 2021 16:45:04 UTC.
Julius Berger Nigeria Plc is one of the largest African building and civil engineering works groups. Net sales break down by activity as follows:
- infrastructure construction (65.9%): bridges, roads, highways, railways, tunnels, water infrastructure, power plants, industrial sites, etc.;
- building construction (22.3%): homes, commercial buildings, administrative buildings, hotels, hospitals, sports and leisure, airports, etc.;
- services (11.8%): buildings and infrastructures engineering, upkeep and maintenance services, handling and logistics services.
Net sales break down geographically as follows: Nigeria (98.4%) and Europe (1.6%).