Julius Berger’s profit goes up, offers dividends

Nigeria’s leading construction company Julius Berger has declared a profit after tax of N4.87 billion for 2011, almost 90 per cent more than the profit made 2010, which stood at N2.8 billion.

In the audited result made available to the Nigeria Stock Exchange, Berger also showed a slight decline in its turnover by about N4billion. The company recorded a turnover of N173 billion in 2010. But last year it went down to N169.4 billion.

The company has declared a dividend payout of N2.40 and will be closing its books between 4 and 8 June, 2012, with the Annual General meeting slate for 21 June in Abuja.

The market fully rewarded the stock Monday as it appreciated by N2.97, to close at N31.97, as against its opening price of N29.