Julius Berger Q1 Profit Hits N9.8bn as Civil Works Lead Revenue
Julius Berger Nigeria Plc has delivered a strong start to 2026, posting a pretax profit of N9.8 billion in Q1 a 66.10% jump from the N5.9 billion recorded in the same period last year. The Julius Berger Q1 profit result, filed on the Nigerian Exchange, signals that Nigeria’s leading construction firm is firing on multiple cylinders despite a slight dip in revenue.
Revenue for the quarter came in at N177.5 billion, marginally lower than the N180.5 billion recorded in Q1 2025. Civil works remained the backbone of the business, contributing N112.6 billion or 63.4% of total revenue while building works added N39.4 billion and services brought in N24.5 billion.
What Drove the Profit Surge
The profit leap was not just about revenue. Julius Berger significantly cut administrative expenses from N22.6 billion to N17.9 billion, which helped push operating profit to N6.09 billion nearly double the N3.1 billion posted a year earlier. Investment income of N4.8 billion, up nearly 30% year-on-year, further padded the bottom line.
Gross profit rose modestly to N28.6 billion from N27.4 billion, while cost of sales declined in line with the revenue dip, reflecting tighter cost management across the business. Retained earnings on the balance sheet climbed 37.81% to N86.3 billion, pointing to a strengthening financial foundation. Total assets stood at N1.07 trillion, with property, plant, and equipment at N308.1 billion leading the asset structure.
The market took notice. Shares in Julius Berger surged 9.38% on the Nigerian Exchange following the earnings release, closing at N315 per unit on April 29. Year-to-date, the stock has returned an impressive 106.02%, making it one of the standout performers on the exchange this year.
